India's leading compact cotton yarn manufacturer and one of the fastest growing multinational textile companies, SVP Global Ventures Ltd. will now be known as SVP Global Textiles Ltd.
The SVP Global Ventures Ltd. is mainly into manufacturing of cotton yarn and hence a need was felt to include Textile in the name.
The company has already declared its venture into technical textiles with a capex of Rs. 100 crore in setting up green-field facility at Jhalawar, Rajasthan with capacity of 4,375 MT per annum.
Established in 1898, by Shri Vallabh Pittie, SVP Group is 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).
Chirag Pittie Director of SVP Global, said, "The change of name of the company will provide it exclusive identity of a leading textile manufacturer as we are also venturing into the complete value chain of textiles. Our recent expansion in Oman and foray into technical textiles will lead to substantial increase in revenue by 25 to 30%. Oman Plant is expected to achieve optimum capacity in H2FY22.”
(With inputs from ANI)