India's TCI Sanmar Chemicals has arranged US$645 mln financing for a VCM and PVC producing complex in Egypt. A long-term loan of US$575 mln will be provided by a syndicate of Indian banks including State Bank of India, Bank of India, ICICI Bank, Indian Overseas Bank, Axis Bank, Export-Import Bank of India, Bank of Baroda, Indian Bank, Syndicate Bank and Union Bank of India. Cairo-based Arab An additional US$70 mln working capital facility for the project will be provided by the African International Bank.
To be built at a total investment layout of US$868 mln, the plant to be located at Port Said in Egypt, will produce 400,000 tpa of vinyl chloride monomer, which will be converted into 200,000 tpa of polyvinyl chloride.
08-Apr-09 
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