To charm big ticket investment in downstream units across industries in Odisha, Indian Oil Corporation (IOC) along with Chatterjee group arm, MCPI is planning to set up a polyester staple fibre (PSF) unit in the State worth Rs 1,000 crore.

The Polyester Staple Fibre unit will be setup on 200 acres at Dhamnagar in the state’s Bhadrak district. The raw materials will be sourced from Haldia in West Bengal and have a 108 kta (kilo tonnes per annum) PSF capacity. This is the second such downstream petrochemical facility in Odisha, where IOC is also setting up a plastic park at Paradip close to its refinery.

The unit will also produce 180 kta of drawn texture yarn and 36 kta of full drawn yarn mainly used as technical textiles, which find broad use in industrial textile and in the garments trade.

Odisha’s principal secretary of industries department, Sanjeev Chopra said that they are reaching out to potential investors in West Bengal and across India, offering them an opportunity to set up downstream units in these industrial parks.

The state government officials who are on a roadshow in the city said, “We have received good response from prospective investors.” A similar roadshow is being planned to be held in Mumbai next month.

– Apparel and Textile News, Apparel Talk, Indian Apparel