The Indian TCI Sanmar Chemicals SAE plans to boost its investments in Egypt by more than $200 million in 2020, the company’s Chairman PS Jayaraman told Daily News Egypt on the sidelines of the Africa Investment Forum held on November 22-23.
Jayaraman mentioned his meeting with the Egyptian President, Abdel Fattah El Sisi, during the forum and praised the direction he is following to create a great future for Egypt. In addition, he pointed out the company’s current $1.5-billion investments in Egypt.
“The president is very flexible and cares a lot to solve the issues that might face the investors in Egypt. The recent meeting with the president encourages us to invest more in the market,” Jayaraman said.
“As an investor, I feel very comfortable investing in Egypt, particularly as the investment guidelines are clear and Egypt is a big growing market,” he added.
It is worth mentioning that TCI Sanmar Chemicals has established a world-class capacity for producing petrochemicals in Egypt, believing that Egypt has easy and cost-effective access to raw materials. Moreover, production from its PVC factory is considered the largest in North Africa and the Middle East (MENA) region.