Indian Oil Corporation (IOC) is teaming up with Chatterjee group arm, MCPI to set up a Rs 1,000 crore polyester staple fibre (PSF) unit in Odisha. This is part of an overall investment drive taken up by the state government to attract big ticket investment in downstream units across industries in the state.
The unit is scheduled to come up on 200 acres at Dhamnagar in the state’s Bhadrak district. It will source raw material from Haldia in West Bengal and have a 108 kta (kilo tonnes per annum) PSF capacity. It will also produce 180 kta of drawn texture yarn (DTY) and 36 kta of full drawn yarn (FDY) mainly used as technical textiles, which find wide use in industrial textile and in the garments trade. This is the second such downstream petrochem facility in the state, where IOC is also setting up a plastic park at Paradip close to its refinery.
“We are reaching out to potential investors in West Bengal and across the country, offering them an opportunity to set up downstream units in these industrial parks,” Odisha’s principal secretary (industries department) Sanjeev Chopra said. The state government officials who are on a roadshow in the city, said they received good response from prospective investors. A similar roadshow is being planned to be held in Mumbai next month. Read More
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