Reliance Industries USA, a subsidiary of the Mukash Ambani-led Reliance Industries, plans to open its first North American plant in Kinston, N.C.

The company will create 204 jobs during the next five years and invest $215 million in a plant to manufacture a resin used in the production of plastic containers and specialty polyester yarns.

The jobs will pay an average wage of $46,500 plus benefits. The average wage in Lenoir County is $27,040.

Reliance chose Lenoir County over other locations because of the existing facility, the area's history in the polyester business, and state and local incentives.

The state will provide up to $2.22 million in Job Development Investment Grants if the company meets its job creation goals, and generates $1.64 billion in total sales and $53.38 million in state tax revenue over nine years, according to a release from the governor's office.

Reliance Industries Ltd. is India's largest private company, with annual revenues of $34 billion. The firm specializes in oil and gas exploration, oil refining, petrochemical products such as plastics and polyester yarn, textiles and retail.