Mitsubishi Chemicals to invest Rs 5,000 cr in textile plant in Bengal: Dr Amit Mitra

Bengal Finance and Industries Minister Dr Amit Mitra made a major announcement yesterday from the UK, where he has gone as part of Chief Minister Mamata Banerjee’s entourage for meeting potential investors for Bengal as well as for inviting prominent industrialists to the upcoming Bengal Global Business Summit.

He announced that Mitsubishi Chemicals is going to set up a large-capacity plant for manufacturing components required in the textile industry.

Explaining the process, he said that the PTA (purified terephthalic acid) made by the company would be converted through the process of continuous polymerisation in the plant to fibre, which would then be converted by spinning mills into the textile components.

The plant is going to provide employment opportunities for 50,000 to 1 lakh people. This number would be gradually upped to 5 lakh. The minister said that work is going to start on a priority basis.

The initial investment amount would be Rs 5,000 crore, which would be scaled up to Rs 10,000 crore in due course.

Dr Mitra said that Bengal would soon be at the forefront of the textile sector in the country.