TCI Sanmar Chemicals has bagged financial disclosure on 30th March for its nearly Rs.4,340 crore assignment in Egypt. Association of Indian Banks has approved nearly Rs.2,800 crore.
TCI group has its existence in Metals, Shipping, Chemicals, Engineering and Specialty Chemicals.
The TCI Sanmar production facilities will be Egypt’s biggest chloral kali refinery with a VCM capacity of 400,000 tpa, half of that will be changed into downstream PVC of nearly 200,000 tpa for sale in the neighboring and provincial markets. The banks that have funded the assignment include Indian Overseas Bank, Axis Bank, State Bank of India, Bank of India, ICICI Bank, Export-Import Bank of India, Bank of Baroda, Indian Bank, Syndicate Bank and Union Bank of India. These banks have jointly offered a long term loan competence up to Rs.2,800 crore.
The company would able to conclude this pact in the complicated economic circumstances existing due to the international slump.