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Egypt and India plan USD 160 mln PET plant in Ain Sokhna

June 23/2011

(Daily News Egypt) -- A joint Indian-Egyptian venture will see the construction of a polyethylene terephthalate (PET) plant in Ain Sokhna at a cost of USD160 million, officials said. The factorys production capacity will reach 1,200 metric tons per day producing about 420 KT of PET plastic chips per year. These plastic products will include bottles, food containers, bottled water, bottled drinks, shampoos and cosmetics.


The Egyptian-Indian Polyester Company (SAE), a joint venture with Dhunseri Petrochem and Tea LTD, will own 70 percent of the shares, while the Egyptian Holding Company for Chemicals, will own 23 percent, and Egyptian-owned petroleum and chemicals company, Enppi, will own 7 percent of shares.


Representatives of the Indian business community were quick to lay the foundation of the planned plant, which will be located in the private free zone area of Ain Sokhna, just northwest of Egypts Suez Gulf.


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