A mega yarn project worth over Rs 4,300 crore will be set up in Bhadrak district of Odisha by Indian Oil Corporation Limited and MCPI Private Limited, informed Chief Minister Mohan Charan Majhi through his social media (X) handle today.
The Chief Minister thanked the IOCL for approving the mega project.
The joint venture project will significantly boost Odisha’s economy and generate substantial employment opportunities, CM Majhi said.
ଓଡ଼ିଶାକୁ ଶିଳ୍ପ ସମୃଦ୍ଧ କରିବା ନିମନ୍ତେ ପୁଞ୍ଜି ନିବେଶ କ୍ଷେତ୍ରରେ ନୂତନ ସମ୍ଭାବନା ସୃଷ୍ଟି କରୁଛନ୍ତି ଲୋକଙ୍କ ସରକାର। ଭଦ୍ରକରେ MCPI ପ୍ରାଇଭେଟ୍ ଲିମିଟେଡ୍ ସହଯୋଗରେ ଏକ ବୟନ ପାର୍କ ପ୍ରତିଷ୍ଠା ପାଇଁ ୪୩୮୨ କୋଟି ଟଙ୍କାର ଅର୍ଥ ମଞ୍ଜୁର କରିଛି ଆଇଓସିଏଲ। #ବିକଶିତଓଡ଼ିଶା pic.twitter.com/gOXSpUpb3C
— Mohan Charan Majhi (@MohanMOdisha) December 21, 2024
State-owned Indian Oil Corporation Ltd announced that its board has approved investment for a yarn in Bhadrak, Odisha, in a 50:50 joint venture with MCPI Private Ltd.
The project, estimated at Rs 4,382.21 crore, will include a 900PD continuous polymerization (CP) unit, along downstream units for draw textured yarn (DTY), fully drawn yarn (FDY), polyester chips, and associated facilities. Indian Oil’s equity contribution to the joint venture amount to Rs 657.33 crore.
