The eastern Odisha district of Bhadrak is set for a major industrial upgrade with Indian Oil Corporation Limited (IOCL) establishing a state-of-the-art technical textile complex, valued at ₹4,377 crore.
Chief Minister Mohan Charan Majhi announced the development during a series of state-backed infrastructure launches on Monday. Among 13 projects worth ₹275 crore recently initiated, he emphasized Bhadrak’s growing industrial profile—fueled by IOCL’s upcoming yarn production facility and another large-scale polyester project by MCPI Pvt. Ltd.
This mega petrochemical-to-textile transformation is being driven by IOCL, with project approval secured from its board in December 2024. The plant will be set up as a 50:50 joint venture between IOCL and MCPI Pvt. Ltd.
According to Indian Textile Magazine, the complex will feature a 900 tonnes-per-day (TPD) Continuous Polymerisation unit, as well as downstream units for producing Draw Textured Yarn (DTY), Fully Drawn Yarn (FDY), and polyester chips—key raw materials used widely across garments, furnishings, and industrial textiles.
IOCL is contributing ₹657 crore as direct equity. The facility is designed to incorporate energy-efficient processes, modern manufacturing capabilities, and a minimized environmental footprint, establishing a new benchmark for textile-related industrial projects in India.
Bhadrak’s selection was strategic due to its industrial corridors, port access, and proximity to raw material sources. Government efforts to boost infrastructure and connectivity have further enhanced the area’s appeal to investors.
The IOCL-MCPI project also aligns with the national ‘Make in India’ movement by reducing reliance on imported polyester yarns and intermediates. It aims to meet both domestic and international market demands, strengthening India’s role in the global textile value chain.