Essar plans petrochem complex in Odisha with global player

The Essar Group plans to set up a Rs 400 billion ($4.92 billion) petrochemical complex in Odisha in a tie-up with a global player, it said in a statement last week. The oil-to-petrochemicals complex will have an annual capacity of 7.5 million tonnes. It did not name its partner in the project. The group also plans to set up a 14 million tonne a year export-oriented pelletising complex in Odisha, at an investment of Rs 120 billion, along with a 250-km slurry pipeline, it said. See also: Vedanta and Jindal Stainless to establish manufacturing parksAdani group to refinance ACC