December 21st 2024.
On Saturday, the Chief Minister of Odisha, Mohan Charan Majhi, expressed his enthusiasm for the proposed yarn project in Bhadrak district. He stated that this project would have a significant impact on the state's economy and would create numerous job opportunities. The project is set to be a collaboration between the state-owned Indian Oil Corporation Limited and MCPI Private Limited, according to the CM.
Majhi took to social media to thank Indian Oil Corporation Limited for approving the establishment of the yarn project. The project, worth 4,382 crores, will be a joint venture with MCPI Pvt Ltd. The CM also mentioned that this partnership would greatly enhance the state's economy and generate substantial employment opportunities. He shared this news on his social media account, X.
According to sources, the IOCL board has given its approval for the yarn project to be set up in Bhadrak. This project will be a 50:50 partnership with MCPI Private Limited. It will feature a 900 TPD continuous polymerisation unit, along with downstream units for draw textured yarn, fully drawn yarn, polyester chips, and other related facilities. This project is expected to have a significant impact on the state's economic growth and create employment opportunities for the people of Odisha.
This partnership between IOCL and MCPI Private Limited is a promising step towards the development of the state. The project's approval is a testament to the government's efforts to boost the economy and create job opportunities for its citizens. The yarn project in Bhadrak is expected to not only benefit the state but also contribute to the overall growth of the country. The people of Odisha are eagerly looking forward to the implementation of this project and its positive impact on their lives.
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