Bhubaneswar: Odisha has an investment proposal from Calcutta's Materials Chemicals and Performance Intermediaries Private Limited (MCPI).
The company has expressed its desire to set up a polyester continuous polymerisation and allied yarn project at the proposed textile and apparel park at Bhadrak.
The company has submitted a Rs 1,000-crore proposal to the state government through the online single window portal GO-SWIFT.
The company will act as an anchor tenant. It will help in supplying feedstock or raw material to the downstream technical textile industries that will come up at the textile park.
"This will provide a big boost to the textile park and will help in the overall development of the region. The state government is equally keen on ensuring the grounding of the project and is evaluating the proposal for providing speedy approval," said a senior official of the industries department.
At the Odisha investors' meet held in Calcutta on January 31, the state delegation had met MCPI representatives and invited for a site visit at the Bhadrak textiles park. Subsequently, MCPI officials had visited the site and agreed to invest after discussions with the state government.
To attract investments in textiles and apparel, the state government has developed a park in Bhadrak district and has invited investments from across the country.
The government has highlighted advantages such as proximity to the industrial hubs of the country, abundant availability of land, labour and other utilities such as power and water.
The state government has received 124 investment intents during the investors' meets held last year in Mumbai, Bangalore and at the Make in Odisha Conclave in Bhubaneswar.
The government has approved firm proposals for 76 projects worth Rs 2.02 lakh crore.
Over the last three years, the state government has adopted a business reforms programme following which Odisha has been recognised as a "leader" in terms of implementation. ASSOCHAM has also ranked Odisha as the leading state in terms of investment implementation.
