The Indonesian conglomerate Indorama has signed a memorandum of understanding with “Egypt Soyadi Fund” to study investment opportunities in a number of sectors in Egypt.
Indorama is widely known in Africa for its gas to fertilizer projects as well as chemical factories. It manufactures chemicals in Senegal, while its petrochemicals complex in Nigeria consumes over 100Million standard cubic feet of gas per day.
In Egypt, it plans to study investment opportunities in mining, industry, fertilizer, phosphate extraction, medical fiber, and a group of other industries, and agreed to study the company’s partnership opportunities.
“The Memorandum of Understanding contributes to deepening the relationship between Egypt and the with Indorama Global Company”, according to a government communique, “entering into an active partnership with one of the largest companies, and giving the fund the opportunity to benefit from the experience the company has gained, and contribute to the localization of the latest technologies in multiple sectors in Egypt”.
Together with its partners Indorama Ventures General Limited has distributed manufacturing activities in 169 locations in 39 countries with a production volume of more than 30 million tons annually and sales exceed $25Billion.