Chennai-based Sanmar group defies downturn; bags US$868 mln financing for Egypt venture

06-Apr-09

Sanmar group, Chennai (India)-based diversified chemical company, recently bagged a US$868 mln financing defying the economic downturn for its Egyptian venture TCI Sanmar Chemicals LLC. The new plant expected to be operational by start of 2010 is said to have facilities at Port Said, Egypt and is likely to bolster the company's PVC capacity making it amongst the top 10 PVC makers in the world. The plant will have 400,000 tpa VCM (vinyl chloride monomer) capacity making it the nation's largest chloralkali plant. Besides, the plant's caustic soda production will reach 275,000 tpa. About 50% of the VCM production from Egypt plant will be sourced as feedstock for its upcoming Rs. 600-crore Cuddalore (Tamil Nadu, India) PVC facility with 200,000 tpa capacity.