Interviews
SVP Global sets up 1,00,000 spindle plant in nine months
05 Aug '16
2 min read
SVP Global Ventures, a diversified yarn manufacturing company has recently commissioned a fully automated plant of 1,00,000 spindles in Jhalawar district of Rajasthan, which has a manufacturing capacity of 22,000 tons per annum and was set up in just nine months.
The new facility will employ over 500 people directly and since the plant will consume almost 25,000 metric tons of cotton annually, it will provide a stable source of livelihood to more than 30,000 farmers and will also see SVP Global's spindle capacity rise to 1,98,000 spindles.
“We are privileged and fortunate to be one of the first investments to fructify under the Resurgent Rajasthan programme and as part of the package, we have significant advantages like interest subsidy, VAT benefit and electricity duty rebate,” Chirag Pittie, managing director, SVP Group told Fibre2fashion.
The entire plant and machinery have been chosen from reputed companies like Rieter, Electro-Jet, LMW and Schlafhorst. The raw cotton and yarn will be tested in a world class quality control lab equipped with latest technology and quality control practices using testing machines from Uster.
“We will be manufacturing cotton combed compact yarn at our new plant, which is a premium yarn. Compact yarn is a value added product with low hairiness, high strength and lustre and better elongation properties with significant advantages in downstream processing,” Pittie informed.
Sharing his opinion on the Indian textile sector, Pittie stated, “Timely policy intervention by the government will boost competitiveness of this sector as the growth impetus is vibrant, while the government's Make-in-India campaign will bolster domestic as well as export growth.”
Click here to read the whole interview.
The new facility will employ over 500 people directly and since the plant will consume almost 25,000 metric tons of cotton annually, it will provide a stable source of livelihood to more than 30,000 farmers and will also see SVP Global's spindle capacity rise to 1,98,000 spindles.
“We are privileged and fortunate to be one of the first investments to fructify under the Resurgent Rajasthan programme and as part of the package, we have significant advantages like interest subsidy, VAT benefit and electricity duty rebate,” Chirag Pittie, managing director, SVP Group told Fibre2fashion.
The entire plant and machinery have been chosen from reputed companies like Rieter, Electro-Jet, LMW and Schlafhorst. The raw cotton and yarn will be tested in a world class quality control lab equipped with latest technology and quality control practices using testing machines from Uster.
“We will be manufacturing cotton combed compact yarn at our new plant, which is a premium yarn. Compact yarn is a value added product with low hairiness, high strength and lustre and better elongation properties with significant advantages in downstream processing,” Pittie informed.
Sharing his opinion on the Indian textile sector, Pittie stated, “Timely policy intervention by the government will boost competitiveness of this sector as the growth impetus is vibrant, while the government's Make-in-India campaign will bolster domestic as well as export growth.”
Click here to read the whole interview.
Fibre2fashion News Desk - India
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