Description

The IFC project with the Egyptian Indian Polyester Company (EIPET) comprises the establishment of a 420,000 tons per annum greenfield Polyethylene Terephthalate (PET) resin plant in the Eldorado Integrated Development and Free Zone S.A.E. in Ain Sokhna, Egypt. EIPET is a joint venture between South Asian Petrochem Limited (SAPL), an Indian based manufacturer of PET which merged with its holding company Dhunseri Tea & Industries, and the Egyptian Petrochemical Holding Company (Echem), an agency of the Government of Egypt. IFCs commitment to the project is $35 million A Loan.