IOCL to set up 4,382cr megayarn unit in Bhadrak district | Bhubaneswar News
Bhubaneswar: Indian Oil Corporation Ltd (IOCL) announced plans to set up a mega yarn unit in Bhadrak district at an investment of around Rs 4,382 crore on Friday.
The project will be a joint venture between IOCL and MCPI Private Limited. According to sources, IOCL will contribute Rs 657.33 crore as equity to the joint venture. According to sources, the project includes the establishment of a 900 TPD continuous polymerisation unit. Additionally, there will be downstream units for draw-textured yarn, fully drawn yarn, polyester chips, and related facilities.
Chief minister Mohan Majhi on Saturday thanked IOCL for sanctioning the project. “Thank you, Indian Oil, for approving the establishment of a yarn project worth Rs 4,382 crore in Bhadrak. This joint venture with MCPI Pvt Ltd is set to significantly boost Odisha’s economy and generate substantial employment opportunities,” Majhi posted on X.
“Grateful for CM Mohan Majhi ji’s support in driving this transformative journey,” IOCL chairman, Arvinder Singh Sahney, posted on X.
The project will be a joint venture between IOCL and MCPI Private Limited. According to sources, IOCL will contribute Rs 657.33 crore as equity to the joint venture. According to sources, the project includes the establishment of a 900 TPD continuous polymerisation unit. Additionally, there will be downstream units for draw-textured yarn, fully drawn yarn, polyester chips, and related facilities.
Chief minister Mohan Majhi on Saturday thanked IOCL for sanctioning the project. “Thank you, Indian Oil, for approving the establishment of a yarn project worth Rs 4,382 crore in Bhadrak. This joint venture with MCPI Pvt Ltd is set to significantly boost Odisha’s economy and generate substantial employment opportunities,” Majhi posted on X.
“Grateful for CM Mohan Majhi ji’s support in driving this transformative journey,” IOCL chairman, Arvinder Singh Sahney, posted on X.
