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India's MCPI to invest ₹1,000 crore in Odisha textile park
24
Apr '18
India
India’s Materials Chemicals and Performance Intermediaries Private Limited (MCPI) has submitted a ₹1,000-crore proposal to set up a polyester continuous polymerization and allied yarn project in a textile park in Odisha’s Bhadrak district. At the state’s investors meet in Kolkata last January, officials had urged MCPI representatives to invest in the park.

Executives of the Kolkata-headquartered company then visited the park site, held discussions with the state government and have now submitted the proposal about the project, which can potentially employ around 200, media in Odisha reported quoting a state government release.

The project will help in supplying raw material to the downstream technical textile industries that will come up in the park.

Out of the 124 investment intents received during the investors’ meets organized last year at Mumbai, Bengaluru and in the Make in Odisha Conclave 2016, the state has received and approved proposals for 76 projects worth ₹2.02 lakh crore. (DS)

Fibre2Fashion News Desk – India


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