Indian Oil Corporation has received investment approval from board for setting up of a Yarn Project consisting of 900 TPD Continuous Polymerization (CP) unit with downstream units of Draw Textured Yarn (DTY), Fully Drawn Yarn (FDY), Polyester chips & associated facilities at Bhadrak (Odisha) at an estimated cost of Rs 4,382.21 crore through (50:50) Joint Venture with MCPI with IndianOil’s equity contribution of Rs 657.33 crore. The board at its meeting held on December 20, 2024 has accorded approval for the same.
Indian Oil Corporation is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.
