Bhadrak Yarn Project: A Boost to Odisha's Economy

Odisha Chief Minister Mohan Charan Majhi announced a new yarn project in Bhadrak district, a collaboration between Indian Oil Corporation Limited and MCPI Private Limited. The Rs 4,382 crore project is expected to boost the state's economy and create numerous job opportunities.

In a promising development for Odisha's economy, Chief Minister Mohan Charan Majhi has announced a significant yarn project to be established in the Bhadrak district. The venture comes as a strategic partnership between state-owned Indian Oil Corporation Limited (IOCL) and MCPI Private Limited.

With an investment of Rs 4,382 crore, the joint venture aims to catalyze economic growth and enhance employment opportunities within the state. The Chief Minister expressed gratitude towards IndianOil Corporation for facilitating this transformative project.

The IOCL board has greenlit the proposal, indicating it will be executed on a 50:50 equity basis with MCPI Private Limited. Key components of the project include a 900 TPD continuous polymerisation unit, downstream facilities for draw textured yarn, fully drawn yarn, polyester chips, and more.

(With inputs from agencies.)