Abhijit Chakraborty Appointed Chairman & Director of IndianOil MCPI Yarn
By developing domestic polyester yarn manufacturing capacity, the joint venture aims to contribute to India's industrial and manufacturing ecosystem
Abhijit Chakraborty, Executive Director (Projects) at Indian Oil Corporation Limited (IndianOil), has been appointed Chairman and Director of IndianOil MCPI Yarn Private Limited (IMYL), marking a significant leadership development for the joint venture as it prepares to establish a major polyester yarn manufacturing facility in Odisha.
The appointment comes at a crucial stage for the venture, which aims to strengthen India’s domestic polyester manufacturing capacity and create closer integration between the petrochemical and textile industries.
₹5,000-Crore Polyester Yarn Project in Odisha
IndianOil MCPI Yarn Private Limited is a joint venture between IndianOil and MCPI Private Limited. The venture is preparing to develop a polyester yarn manufacturing facility at Bhadrak in Odisha, involving a proposed investment of approximately ₹5,000 crore.
The planned facility is expected to include a 900-tonne-per-day continuous polymerisation unit, alongside downstream manufacturing facilities for Fully Drawn Yarn (FDY), Draw Textured Yarn (DTY) and polyester chips.
The project is expected to strengthen domestic manufacturing capabilities in the polyester value chain and support the growing requirements of India’s textile industry.
Abhijit Chakraborty’s Role
Chakraborty currently serves as Executive Director (Projects) at IndianOil. His experience in project execution, engineering and industrial development is relevant to the implementation of a large-scale manufacturing project of this nature.
His appointment comes as the joint venture moves towards developing its proposed facility, which could expand IndianOil’s presence in the petrochemical value chain beyond its established energy business.
Strengthening the Petrochemical-Textile Linkage
The proposed Bhadrak project reflects the potential for greater integration between India’s petrochemical sector and its textile manufacturing industry. Polyester is an important raw material for synthetic fibres and yarns used across apparel, home textiles and industrial applications.
By developing domestic polyester yarn manufacturing capacity, the joint venture aims to contribute to India’s industrial and manufacturing ecosystem.
The progress of the project, including implementation milestones and the eventual commissioning of the facility, will be important indicators of its contribution to India’s polyester and textile sectors.
For IndianOil, the venture represents an opportunity to deepen its presence in value-added petrochemicals, while the appointment of Abhijit Chakraborty places an experienced projects executive at the helm of the joint venture.
