Cairo: TCI Sanmar Chemicals, a subsidiary of India’s Sanmar Group, has reaffirmed plans to invest an additional $300 million in Egypt, bringing its total investments in the country to around $2 billion. The announcement came during a meeting between Egypt’s Minister of Investment and Foreign Trade, Hassan El-Khatib, and P.S. Jayaraman, Chairman of TCI Sanmar Chemicals, on Monday.

According to State Information Service Egypt, Minister El-Khatib discussed expanding Indian investments in Egypt, emphasizing the government’s commitment to supporting foreign investors and fostering a business-friendly environment, particularly in the chemicals sector. He also stressed that TCI Sanmar’s expansion would boost local manufacturing, generate jobs, and strengthen the national economy.

For his part, Jayaraman outlined the company’s plans to establish cold storage facilities to enhance warehousing and streamline the supply chain. Meanwhile, Navdeep Suri, director of TCI Sanmar, underscored Egypt’s strategic importance as a regional hub for the company’s operations across the Middle East and North Africa (MENA).

The company currently provides 3,000 job opportunities in Egypt and exports products to Southern Europe, Asia, and MENA markets. Future expansion plans include the development of a marine terminal for importing ethylene, ensuring a stable supply of raw materials for polyvinyl chloride (PVC) production-one of the company’s core products.

Additionally, TCI Sanmar is focused on increasing the production capacity of its Port Said factories to meet the rising demand in both local and global markets, further cementing its role as a key player in Egypt’s industrial and trade sectors.