SVP Global Ventures to invest $150 m to expand Oman facility
April 06, 2021
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Plans to invest ₹575-690 cr for forward integration, list on NSE and raise ₹235 crore through QIP in May
Mumbai-based SVP Global Ventures, the holding arm of Shri Vallabh Pittie Ventures Ltd’s textiles businesses, plans to invest $150 million (about ₹1,095 crore) this financial year for expanding its Oman facility. The company, which has a facility located at Sohar Freezone in Oman, had invested a similar amount in FY21.
The expansion would enable the company double its production capacity of yarn to 3 lakh spindles and 7,000 rotors per year.
“We already have an order book of ₹5,000 crore lined up for the 2-3 years from buyers across global textile markets, which would be serviced mainly from Oman facility. The orders are mainly coming in from Pakistan, Bangladesh, Vietnam, Brazil and Turkey, while some part of it is also from China,” SVP Group Chief Executive Officer OP Gulia told