IOCL and MCPI join hands for developing polyster manufacturing project in Odisha
Kolkata-based MCPI Private Limited (MCPI) has joined hands with government-owned Indian Oil Corporation Limited (IOCL). The two companies have signed a joint venture (JV) agreement to establish a polyester yarn manufacturing facility in Bhadrak, Odisha.
The project is expected to require an investment of Rs 5,000 crore. It is proposed to comprise a 900-tonnes-per-day (TPD) continuous polymerisation (CP) unit, supported by downstream manufacturing facilities for fully drawn yarn (FDY), draw textured yarn (DTY), and polyester chips.
Also Read: Government to set up 7 PM MITRA parks in a major boost to textile sector