A delegation of Indian businessmen and industry representatives have expressed their interest in investing in Egypt’s petrochemical sector, stated Tarek El-Molla, minister of petroleum and mineral resources.
Representatives from the Egyptian government were in talks with members from the delegation over cooperation opportunities with companies in the petroleum and natural gas sector, the minister said on Thursday, according to a statement.
Indian businessmen also discussed opportunities with companies such as Egypt’s Enppi and Petrojet.
We have discussed possible investments in the Suez Canal axis area and cooperation in the recycling of plastic, the minister revealed.
In January this year, Egypt’s petroleum ministry said was targeting the execution of four new petrochemical projects with investments exceeding $1 billion.
These investments will increase the added value of local raw materials, the ministry added.
India is considered Egypt’s ninth largest destination partner.
