TCI Sanmar Chemicals, an Indian industrial giant, plans to invest over $300 million to boost its production capacity in Egypt. The company is also exploring the possibility of building a sea dock west of Port Said Port to streamline the import of raw materials essential to its operations, according to a statement from the Ministry of Investment and Foreign Trade.

The announcement came following a meeting between Minister of Investment and Foreign Trade Hassan El-Khatib and PS Jayaraman, Chairman of TCI Sanmar Chemicals, to discuss the company’s current activities and upcoming expansion plans in Egypt.

TCI Sanmar began operations in Port Said in 2007 and expanded in 2017 by establishing a second PVC plant along with a new facility for calcium chloride granules. The company has since grown its business volume in Egypt to $1.5 billion.

He emphasized that the ministry is actively working to simplify investment procedures and overcome challenges faced by companies operating in Egypt.

Acme Group, headquartered in India, will build a USD 13 billion green hydrogen plant in Ain

Sokhna, Egypt, part of the Suez Canal Economic Zone. The plant, covering 4.5 million square meters, will produce approximately 2.2 million tons of green hydrogen annually.

In October 2023, Egypt hosted the Egyptian-Indian Business Forum, which was attended by 1,200 companies in Sharm El-Sheikh. It included representatives from 30 leading Indian companies operating in sectors such as communications and information technology, artificial intelligence, oil and gas, petrochemicals, healthcare, pharmaceuticals, financial and banking services, and e-commerce. The goal is to increase and enhance Indian investments in Egypt.

In October 2023, the Ministry of Finance’s General Directorate of Investor Services in cooperation with other relevant ministries and entities completed 364 on-site and online requests from investors for foreign companies from various sectors in 10 countries. It resolved the problems of investors in various sectors for foreign companies from 10 countries, including India. The GDIS communicates directly with customs outlets to help investors complete the customs clearance procedures quickly, thereby encouraging them to expand their investment activities.

The Government is keen to enhance communication channels with various investment companies operating in Egypt. This was mentioned at a press conference for the Prime Minister, attended by representatives of several investment companies operating in Egypt (March 2023). The conference was attended by a group of chairpersons and CEOs of several private sector companies and included India’s TCI Sanmar Chemicals.