IOCL-MCPI JV

MCPI Private Limited (MCPI) has entered into a 50:50 Joint Venture with Indian Oil Corporation Limited (IOCL) to establish a large textile unit in Bhadrak, Odisha. Guided by the vision of Dr. Purnendu Chatterjee, Chairman of The Chatterjee Group (TCG), this partnership marks a bold step forward in MCPI’s mission to lead the PTA and polyester downstream sectors. The venture will drive sustainable growth, reinforcing India’s position as a global textile powerhouse.

This strategic expansion strengthens MCPI’s presence in the polyester and textile industry, following the 2021 acquisition of Garden Silk Mills Private Limited and a successful 1,250 crore FDY expansion project in Surat. The project will feature a 900 TPD Continuous Polymerisation (CP) unit, as well as downstream units for Draw Textured Yarn (DTY), Fully Drawn Yarn (FDY), polyester chips, and associated facilities.

With an investment of ₹4,382 crore and equal equity contributions of ₹657.33 crore each from IOCL and MCPI, the partnership is a testament to their commitment. This initiative aligns with the national vision of self-reliance in the textile sector and is designed to significantly strengthen the polyester value chain within the country.