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SVP Global invests Rs 100 cr to enter tech textiles biz

Oct 01, 2021

India

With a vision to be a fully integrated and globally competitive textile manufacturer, SVP Global Ventures Ltd, India's largest compact cotton yarn manufacturer, is foraying into technical textiles.

The company is investing around Rs 100 crores in setting up a 4,375 MT per annum green-field facility for technical textiles at Jhalawar, Rajasthan. Company plans to manufacture protective uniforms and functional garments, medical textile, mobile tech, anti-odour and antibacterial knitted fabric for medical and cosmetic uses in apparel and expand gradually in other products. The company plans to commence commercial production in 12 to 15 months.

Technical Textiles is a high-tech and innovation driven industry which is steadily gaining ground in India. Technical textiles are functional fabrics that have applications across various industries including automobiles, civil engineering, construction, agriculture, healthcare, industrial safety and waste management among others.

Chirag Pittie, Director, SVP Global, said that, technical textiles industry is expected to be the next sunshine industry and it is expected to get much needed impetus from production linked incentives announced by the government recently.

Established in 1898, by Shri Vallabh Pittie, SVP Group is primarily engaged in manufacturing of polyester, polyester & cotton blend, and 100% cotton yarn across 3 state-of-the-art manufacturing facilities in Jhalawar (Rajasthan), Ramnad (Coimbatore) and Sohar (Oman). Company has a vision to become a world-leading, fully integrated textile company in manufacturing yarn, fabric and garments.

The Group has recently commenced commercial operations at its mega textile plant in Oman. It has invested $ 150 million in setting up 1.5 lakh spindles and 3,500 rotors facility at Sohar Free Trade Zone in Oman. The expansion offers many strategic operational and logistics benefits over a long period of time.

SVP Global is among top 2% Indian manufacturers with technology less than 5 years old and output of 153-154 grams per spindle per shift, which is highest in the industry. SVP Global is accredited as an approved supplier for leading brands including IKEA and Zara.

Source: Equity Bulls

Image Source: Google Images

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