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Sanmar to revive operations of TCI of Egypt

Saturday, 14 Apr 2007
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Sanmar group plans to invest additional $275 million (Rs.1,200 crore) apart from the earlier $275 million in reviving the main operations and downstream products of the recently acquired plant, Trust Chemical Industries (TCI) of Egypt. This is a part of the group's Rs.3,950 crore investment programme. 

TCI's plant at Port Said on the Suez Canal which is a year old will be producing 275,000 tonnes of caustic soda, and 235,000 tonnes of chlorine. The chlorine will be used to produce 400,000 tonnes of Vinyl Chloride Monomer (VCM), a feedstock for PVC that Chemplast produces.

Chemplast Sanmar is the only listed company of the group that will also benefit from the acquisition as the VCM will be brought to Cuddalore, where Chemplast is setting up a Rs.520 crore, 200,000 tonne PVC plant.

The group also intends to put up a 20,000-tonne brownfield steel foundry near its existing foundry at Tiruchi, a 30 tonne polysilicon plant, whose output will be used for producing silicon wafers. There is also a coal based power project, 48.5 MW that will replace the furnace oil-based power plant at Mettur.

Also See:
Chemplast to invest Rs.300 crore in Tamil Nadu (22-Feb-06)

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