MCPI to set-up polyester project at Bhadrak textile park

The Materials Chemicals Performance Intermediaries (MCPI) Private Limited has evinced interest in setting up a polyester continuous polymerisation and allied yarn project at the textile park in Bhadrak district. The company has submitted an investment proposal of `1,000 crore to the State Government through the online portal Government of Odisha Single Window for Investor Facilitation and Tracking (GO-SWIFT) seeking an early approval of the project.

The State Government has developed a textile park in Bhadrak district to attract investments in its focus sector of textiles and apparel.Once the polyester continuous polymerization and allied yarn project is set up, it would attract other downstream industries to the park. The industries to come up in the textile park are expected to generate employment to around one lakh people and help in the realisation of the State’s dream of transforming the region into a textile hub.

It has also been aiming for investments by organising investors’ meet across the country.Project will act as an anchor project and help supply feed stock or raw material to the downstream textile industries.Company has submitted an investment proposal of `1,000 crore to State Govt. Projected employment potential of 200 people. Developed in an area of around 115 acres, the textiles park is expected to house more than 20 industries.

The textile park offers distinctive advantages to the investors for its proximity to the industrial hubs and abundant availability of land, labour and other utilities like power and water.

With an employment potential of around 200 people, the project will act as an anchor project and help supply feed stock or raw material to the downstream textile industries. “The project will not only provide big boost to the textile park, but also help in overall development of the region. The State Government is evaluating the proposal for providing speedy approval and equally keen on ensuring the grounding of the project,” said a senior official of the Industries Department.A delegation from the State had met the authorities of Materials Chemicals and Performance Intermediaries Private Limited (MCPI) during an investors’ meet at Kolkata on January 31. Subsequently, officials from MCPI had visited the site and held discussions with the State Government.