Home / Knowledge / News / Textiles / SVP group opens 4th plant in Rajasthan
SVP group opens 4th plant in Rajasthan
22
Jul '16
Courtesy: SVP Global
Courtesy: SVP Global
ShriVallabh Pittie Industries (SVP), a leading textile company today began operations at its new fully automated textile plant with state-of- the- art technology in manufacturing polyester and cotton blended yarn in Jhalawar.

The Rs 450 crore plant, spread across 25 acres, has 1,00,000 spindles with a manufacturing capacity of 22,000 tonnes per annum . The cost of this plant is funded with a 60:40 debt to equity ratio, said Chirag Pittie, Managing Director of the SV Pittie Group.

Inaugurating the plant, Rajasthan Chief Minister Vasundhara Raje said, "We are committed towards forging partnerships that promote manufacturing and create employment opportunities in Rajasthan."

The setting up of the textile unit in record 9 months by the Pittie group is an excellent example of development realised by effective governance, she said adding that "Our mission of Make in Rajasthan is complimenting the PMs vision of Make in India."

Expressing the hope that the new plant would help in generating sustainable employment, Chirag Pittie acknowledged that the group had derived significant advantages like interest subsidy, VAT benefit and electricity duty rebate.

The new plant, which can produce high quality compact yarn of count 20 to 60, takes the Pettie group's combined installed capacity to 200,000 spindles, he said.

The plant will consume almost 25,000 MT of cotton annually, which will provide employment to over 500 people directly besides being a stable source of livelihood to more than 30,000 farmers, Pittie said. It will manufacture combed compact yarn that sells at a premium in the market over other yarns and commands higher margins, he added.

The group company, Platinum Textiles is engaged in manufacturing of polyester & cotton blended yarn. Its other manufacturing facilities are located at Ramnad, Coimbatore and Palani in Tamil Nadu where they manufacture cotton yarn, compact yarn, citra yarn, PC blended yarn, and open end yarn. The total installed capacity of the three units is 100,000 spindles and spin yarns of count ranges 6 to 70. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: The White House

Textiles | On 21st May 2018

China, US put trade war on hold

Following weeks of uncertainty over imposition and counter-imposition ...

Equate posts best Q12018 results since inception

Textiles | On 21st May 2018

Equate posts best Q12018 results since inception

Equate Group's first quarter results for 2018 are the best since its...

Over 60% retailers already have IoT platforms: IDC

Apparel/Garments | On 21st May 2018

Over 60% retailers already have IoT platforms: IDC

Retail organisations are adopting IoT platforms and more than 60 per...

Interviews View All

Top executives
Textile industry, India

The event should be organised every year

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search