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The Times of India

Business

Sanjay Dutta | TNN

Essar announces $4.9 billion petrochem complex in Odisha

Essar Odisha Mumbai New Delhi

NEW DELHI: The Essar group promoted by the Mumbai-based Ruia family on Thursday announced a plan to set up an oil-to-petrochemical (OTC) complex in Odisha at an investment of Rs 40,000 crore, or about $4.9 billion.

The complex will be built jointly with a foreign partner and have an annual capacity of 7.5 million tonnes, the company said without identifying the partner.

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