SVP Global begins commercial operations at textile factory in Oman
SVP Global Ventures, an Indian cotton yarn manufacturer, said that it has started commercial operations at its $150 million textile factory in Oman.
Through its subsidiary SV Pittie Sohar Textiles (FZC), the SVP Group company established 1.5 lakh spindles and 3,500 rotors facility at Sohar Free Trade Zone.
The textile factory in Oman is anticipated to achieve peak utilization by 21 September and contribute significantly to its overall revenue, said SVP Global Ventures.
Following the completion of the Sohar textile plant, the total operational capacity of SVP Global Ventures has gone up to 4 lakh spindles and 5,900 rotors.
SVP Global Ventures begins commercial operations at textile factory in Oman. Photo courtesy of SVP Global Pvt. Ltd.
Chirag Pittie — Director of SVP Group said: “The strong demand for high margin combed compact cotton yarn coupled with sales off-take agreements will enable us to fully utilise the new capacities and enhance value for our stakeholders. We have a vision to be a leading integrated textile manufacturer of the World.”
Founded in 1898, SVP Group is engaged mainly in manufacturing polyester, polyester and cotton blend, and 100% cotton yarn. The group has three manufacturing facilities in Jhalawar in Rajasthan, Ramnad in Coimbatore and Sohar.
Maj Gen O P Gulia —CEO of SVP Group said: “Our strategic growth initiatives, enhanced capacity and operational efficiencies, product and geographical expansion with focus on high margin products are likely to drive profitability and contribute to the growth of the company.
“The Group is now ready to foray into the complete value chain of textile. The order book of the company currently stands at Rs. 5,000 crore equivalent to next 2-3 years of revenue.”