SVP Global invests Rs 100 cr to enter tech textiles biz
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.
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
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