New Delhi: The Executive Director(Projects) at Indian Oil Corporation Limited (IOCL), Abhijit Chakraborty, has been appointed as the Chairman and Director of Indian Oil MCPI Yarn Private Limited (IMYL).
His position marks significant leadership in the joint venture, as it aims to establish a major polyester yarn manufacturing facility in Odisha.
About Abhijit Chakraborty
Chakraborty currently holds the position of Executive Director (Projects) at Indian Oil. He oversees project execution, engineering, and industrial developments, and the implementation of large-scale manufacturing projects.
His appointment at the joint venture marks a significant step as it expands the oil company's presence in the petrochemical value chain and strengthens the petrochemical-textile linkage.
About the JV
IndianOil MCPI Yarn Private Limited is a joint venture between Indian Oil and MCPI Private Limited. This partnership aims to develop a polyester manufacturing facility at Bhadrak in Odisha, involving a proposed investment of about Rs 5,000 crore.
The planned facility is expected to include a 900-tonne-per-day continuous polymerization unit, alongside downstream manufacturing for Fully Drawn Yarn (FDY), Draw Textured Yarn (DTY), and polyester chips.
The project is set to boost India's textile industry by solidifying the polyester manufacturing framework.
