Egypt-based TCI Sanmar Chemicals, a wholly-owned subsidiary of diversified Sanmar Group with interests in chemicals, engineering, metals and shipping, has embarked upon doubling its PVC capacity at its plant in Port Said, following a pick up in the economic activities in Egypt.
The company, which had invested around $1 billion over a period time, has undertaken a fresh investments of $300 million towards capacity expansion of its PVC and other allied activities, said PS Jayaraman, chairman, TCI Sanmar Chemicals. He said: ?We have been also asked to set up a Plastic Park by the Egypt government authorities in Port Said, for which the company entered into a MoU with the authorities recently. The land for the Plastic Park will be allotted by the Governorate of Port Said.?
Besides developing the infrastructure facilities in this land, TCI Sanmar will render technical and commercial expertise for all small and medium enterprises (SMEs), who could participate by taking suitable area of land in the park to produce downstream products like PVC pipes, profiles, calendars, using company?s PVC as the raw material. ?This park will have all infrastructure facilities like developed land, roads, lighting, common waste-treatment facilities, security, training blocks,? he said adding ?We have been entrusted with the job to create employment to the local people as the country has started coming out of the recession over a period of time.?