The Kolkata-based MCPI Private Limited would make significant investments in Odisha. The High-Level Clearance Authority (HLCA), chaired by Odisha Chief Minister Naveen Patnaik, has authorised five industrial projects, including MCPI Private Limited's investment of Rs 2,223.25 crore in the technical textile industry.

According to reports, the business intends to establish manufacture of HMLS polyester-based tyre cord textiles, HTLE Yarns, High IV and CP Chips at Bhadrak Technological Textile Park, which would employ more than 1,150 Odishans.

MPCI is also one of the textile firms approved under the PLI system.

Indian Oil Company Ltd. (IOCL) and MCPI Ltd. signed a memorandum of understanding (MoU) in 2017 to establish a textile park in Odisha.

According to the company's website, MCPI has been a prominent distributor of Purified Terephthalic Acid (PTA) in India for over two decades. It has been delivering best-in-class PTA to downstream Polyester sectors such as Yarn, PET, and PET Film thanks to its patented Mitsubishi Chemicals Technology.