Essar Capital will make an investment of about Rs 52,000 crore in Odisha to set up various projects which include a 14 MT pellet plant and a 7.5 MT crude to petrochemical unit, the company’s Director Prashant Ruia said Thursday.
”Essar plans to set up several projects in Odisha. A 14 MTPA pelletizing complex at an investment of Rs 12,000 crore, comprising an iron ore fines beneficiation plant, a pellet plant and 250 km slurry pipeline. Also proposes a 7.5 MTPA crude to petrochemical complex (CTC) involving about Rs 40,000 crore investment,” Ruia said at ’Make in Odisha Conclave 2022’ in Bhubaneswar.
The company looks to set up the CTC in partnership with an international player, he said.
The industrialist further said Odisha is witnessing double digit growth and an impressive industrial and social development, and his company is making significant investments in Odisha in the sectors of metals and mining and energy.
Essar Capital Limited (Essar Capital) is the investment manager of Essar Global Fund Limited (EGFL), which owns a number of assets across the core sectors of energy.
The investors summit was inaugurated by Odisha Chief Minister Naveen Patnaik. It was attended by various industry leaders and senior government officials.
