Back to the complete issue
Monday, 28 December 2020

India’s TCI Sanmar to invest USD 200 mn here next year

Indian industrial chemical manufacturer TCI Sanmar Chemicals is planning to resume its USD 200 mn investment in its Egyptian operations next year, the company’s Egypt CEO Sherif El Manoufi said, according to Al Mal. The investment will likely go towards expanding its production capacity of polyvinyl chloride and calcium chloride, with El Manoufi expecting a spike in demand of these chemicals on the back of infrastructure and national projects being greenlit and as Egypt looks to boost manufacturing of sanitizers. He anticipates that the company will “significantly grow” its market share in 1H2021.

TCI Sanmar had planned to invest USD 200 mn in 2020, but it appears that these have been put on hold due to limited demand caused by the covid-19 lockdown. El Manoufi noted that demand for products made by the company, including caustic soda, polyvinyl chloride, and calcium chloride had declined 30-50% in 2020.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2021 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of Commercial International Bank (tax ID: 204-891-949), the largest private-sector bank in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; and Act Financial (tax ID: 493-924-612), the leading activist investor in Egypt; and Abu Auf (tax ID: 584-628-846), the leading health foodmaker in Egypt and the region.