Indo-Egyptian JV to invest US$160 mln in Ain Sokhn polyethylene terephthalate plant

A joint Indian-Egyptian venture will see the construction of a 420,000 tpa polyethylene terephthalate (PET) plant in Ain Sokhna at a cost of $160 million, as per Daily News Egypt. The Egyptian-Indian Polyester Company (SAE), a joint venture with Dhunseri Petrochem and Tea Ltd. will own 70% stake, Egyptian Holding Company for Chemicals will own 23%, and Egyptian-owned petroleum and chemicals company Enppi, will own 7% stake.
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