MCPI Private Limited (MCPI), a member of The Chatterjee Group (TCG), is a front runner in the manufacture of Purified Terephthalic Acid (PTA) which is the basic raw material for the polyester industry. With its Headquarters in Kolkata and plant located on the picturesque western bank of the river Hooghly in the industrial hub at Haldia, West Bengal, MCPI has established itself as a leading manufacturer of PTA, ensuring a stable supply to the polyester industry in the country.
MCPI started its business operations in India in the year 1997 as a subsidiary of Mitsubishi Chemical Corporation, Japan (MCC), a Fortune 500 Company. The Company continued to be an affiliate of Mitsubishi Chemical Corporation, Japan till November 2016, when the majority ownership of the Company was transferred to The Chatterjee Group (TCG), which currently holds 99.4% stake in the Company. TCG has diversified interests in Petrochemicals, Pharmaceuticals, Biotech, Financial Services, Real Estate and Technology sectors in the US, Europe and South Asia. The major companies in the Group include Haldia Petrochemicals Ltd., TCG Real Estate, TCG Life Sciences, MCPI, TCG Digital, Labvantage Solutions, Fi-tek, etc.
With an initial investment of Rs. 1,475 crore (US$ 380 million), the first phase of the plant commenced commercial production of PTA in April, 2000 with an annual capacity of 350,000 tonnes which was, enhanced to 470,000 tonnes p.a. in December 2003. Subsequently, having decided to expand its operations using the latest proprietary PTA technology of MCC, it constructed another PTA plant within the same Factory premises at an investment of around Rs. 1,962 crore (US$ 400 million) which currently has a revised capacity of 800,000 tonnes p.a. The second plant started commercial production in March, 2010. The total revised capacity of the two Plants is currently 1,270,000 tonnes p.a.
Today MCPI has an annual turnover in excess of Rs. 6000 crores and employs around 1,200 people, besides providing indirect employment to many more.