Kolkata-based MCPI Private Limited will invest massively in Odisha. In a recent meeting of the High-Level Clearance Authority (HLCA) headed by Odisha Chief Minister Naveen Patnaik approved five industrial projects including the investment of Rs 2,223.25 crore in the technical textile sector by MCPI Private Limited.
It is being said the company proposes to set up manufacturing of HMLS polyester-based tyre cord fabrics, HTLE Yarns, High IV and CP Chips, which will provide employment opportunities to more than 1,150 people of Odisha at Bhadrak Technical Textile Park.
MPCI is also one of the companies that get approval under PLI scheme for textiles.
In 2017, Indian Oil Corporation Ltd. (IOCL) and MCPI Ltd. signed a memorandum of understanding (MoU) to set up a textile park in Odisha.
As per the website of the company MCPI has been a leading provider of Purified Terephthalic Acid (PTA) in India for more than two decades. Endowed with the proprietary Mitsubishi Chemicals Technology, it has been providing best-in-class PTA to downstream Polyester industries i.e., Yarn, PET, and PET Film.