Egypt’s El-Khatib seeks more Indian investments with Tata Chemicals

Egypt’s Minister of Investment and Foreign Trade Hassan El-Khatib discussed investment cooperation and economic partnership opportunities with Venkatachari Ranganathan, chief commercial officer of Tata Chemicals, during his visit to India.

El-Khatib discussed expanding Indian investments in Egypt, focusing on the chemical and renewable energy sector, a statement published by the Ministry of Investment and Foreign Trade said on Tuesday.

Tata Chemicals, a global leader in chemical and renewable energy, could play a key role in developing sustainable industrial solutions. The discussions also covered technology transfer and local manufacturing collaboration to support Egypt’s industrial development.

El-Khatib highlighted Egypt’s efforts on attracting foreign investment and building partnerships with international companies, emphasising opportunities in chemical production and renewable energy.

Additionally, the meeting reviewed ongoing joint projects, including the cooperation agreement between the Egyptian government and India’s PowerOcior for renewable energy. The project, valued at $4.2 billion, aims to produce green ammonia from green hydrogen, with the first phase expected to be operational in early 2027.

He also reaffirmed Egypt’s commitment to fostering economic ties with India, highlighting the country’s attractive investment climate, supported by economic and legislative reforms that encourage foreign investments.

For his part, Ranganathan expressed Tata Chemicals’ interest in investing in Egypt, particularly in chemicals and renewable energy, given the promising growth opportunities in these sectors, as stated in the release.

He noted that the Tata Group is one of India’s largest conglomerates, with major investments across various industries, including automotive, chemicals, energy, and technology, and aims to expand its presence in global markets, including Egypt.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama