Materials Chemicals Performance Intermediaries (MCPI) is looking to setting up a polyester continuous polymerisation and allied yarn project at a textile park in Bhadrak, Orissa. The company has submitted an investment proposal of Rs 1000 crores seeking early approval for the project.

Once the project comes up, it will attract other downstream industries to the park. The industries to come up in the textile park are expected to generate employment for around one lakh people and help in the realisation of the state’s dream of transforming the region into a textile hub.

With an employment potential of around 200 people, the project will act as an anchor project and help supply feed stock or raw material to the downstream textile industries. The project will not only provide a big boost to the textile park, but also help in overall development of the region.

The textile park in Bhadrak offers unique advantages to investors for its proximity to industrial hubs and abundant availability of land, labor and other utilities like power and water. Developed in an area of around 115 acres, the textile park is expected to house more than 20 industries. Material Chemicals Performance Intermediaries is a chemical process plant with state-of-the-art technology.