IndianOil MCPI Yarn Private Limited (IMYL), a joint venture between Indian Oil Corporation Limited (IndianOil) and MCPI Private Limited, has introduced Mr. Abhijit Chakraborty as its Chairman & Director. Mr. Chakraborty currently serves as Executive Director (Projects) at IndianOil and brings extensive experience in project execution, engineering and industrial development.
His appointment comes at a crucial stage in the joint venture’s development, as the partners prepare to establish a major polyester yarn manufacturing facility at Bhadrak in Odisha. The ₹5,000-crore project marks a significant step towards strengthening India’s domestic polyester manufacturing capabilities and deepening integration between the petrochemical and textile industries.
The proposed facility will feature a 900-tonne-per-day continuous polymerisation unit, supported by downstream manufacturing facilities for Fully Drawn Yarn (FDY), Draw Textured Yarn (DTY) and polyester chips. The project is expected to strengthen domestic supply capabilities and serve the growing requirements of India’s apparel, home textiles and other textile segments.
Mr. Chakraborty’s experience in managing industrial projects is expected to provide strategic direction and oversight as IMYL moves towards establishing its manufacturing platform. His leadership will support the company’s objective of building a competitive polyester yarn business while contributing to India’s downstream polyester value chain.
The joint venture brings together IndianOil’s expertise in petrochemicals and MCPI’s experience in polyester and textile manufacturing. MCPI’s existing presence in the downstream polyester segment, including its experience in FDY manufacturing, provides a complementary foundation for the partnership.
With a focus on technology, quality, innovation and customer value, IMYL aims to build a strong and sustainable presence in the yarn and textile industry.
Mr. Chakraborty’s appointment represents an important leadership milestone as IndianOil and MCPI advance their ambitious Odisha project, with the potential to strengthen India’s man-made fibre ecosystem and expand domestic polyester manufacturing.