Essar Group plans $4.9 bln petrochemical complex in Odisha

India's Essar Group plans to set up a 400 billion rupee ($4.92 billion) petrochemical complex in the eastern state of Odisha in a tie-up with a global player, it said in a statement on Thursday.

The oil to petrochemical complex will have an annual capacity of 7.5 million tonnes, it said. It did not name its partner in the project.

The group also plans to set up a 14 million tonne a year export-oriented pelletizing complex in Odisha, at an investment of 120 billion rupees and with a 250-kilometer slurry pipeline, it said.