Indian Oil Corporation (IOCL) plans to set up a textile park in the Bhadrak district, Odisha with an investment of Rs 4,382 crore.
To be executed in 50:50 joint venture with MCPI, the textile park will be established on 56 acre at Dhamnagar. The park will also house a 900 tons per day textile plant to be built with an investment of Rs 1,971 crore, as per Dhananjay Sahoo, Head-Business Development (Petrochemicals), IOCL.
The establishment of this yarn manufacturing unit aligns with IOCL's strategy to diversify into value-added products and supports the development of a robust textile ecosystem in Odisha.
This project is poised to enhance Odisha’s industrial landscape, contributing to economic growth and creating numerous employment opportunities in the region.
Additionally, the project is anticipated to bolster the state's position in the textile industry, attracting further investments and fostering industrial growth.
