TV
The eastern district of Bhadrak is poised for an industrial transformation with the Indian Oil Corporation Limited (IOCL) set to establish a cutting-edge technical textile complex worth Rs 4,377 crore.
CM Mohan Charan Majhi highlighted this massive project during a flurry of state government-backed infrastructure initiatives and project inaugurations on Monday.
Amid 13 development projects worth Rs 275 crore launched recently, the Chief Minister highlighted Bhadrak’s rising industrial potential, anchored by IOCL’s yarn manufacturing plant and another major polyester project by MCPI Pvt. Ltd.
A Petrochemical-Turned-Textile Mega Project
The IOCL-led project, approved by its board in December 2024, is being executed through a 50:50 joint venture with MCPI Pvt. Ltd.
As per reports published by the Indian Textile Magazine, the facility will include a 900 TPD (tonnes per day) Continuous Polymerisation unit and advanced downstream units for the production of Draw Textured Yarn (DTY), Fully Drawn Yarn (FDY), and polyester chips, which are critical intermediates in the textile value chain, used in garments, furnishings, and industrial applications.
With Rs 657 crore of direct equity infusion from IOCL, the plant is designed to integrate energy efficiency, cutting-edge manufacturing, and reduced environmental footprint, setting a new benchmark for industrial projects in India’s textile sector.
Strategic Location and Industrial Synergies
Bhadrak’s selection as the site for this venture is not incidental. The district offers logistical advantages through established industrial corridors, access to ports, and proximity to raw materials.
These factors, combined with state-led initiatives to improve infrastructure and connectivity, make it an attractive destination for industrial investment.
A Push for Self-Reliance in Technical Textiles
The IOCL-MCPI complex will contribute significantly to India’s self-reliance goals under the ‘Make in India’ initiative by reducing dependence on imported polyester yarns and intermediates.
Further, the plant’s output will cater not only to the domestic demand but also to export markets, potentially elevating the country’s standing in the global textile manufacturing hierarchy.
