Cotton yarn manufacturer, SVP Global Ventures plans to set up a 4,375 mt per annum Greenfield facility for technical textiles in Rajasthan. To be set up with an investment of Rs 100 crore, the facility will make significant contribution to the group’s topline and margins. It will courage the group’s revenues of approximately Rs 175 crores per year from the technical textiles, says OP Gulia, CEO, SVP Global.

SVP will manufacture protective uniforms, functional garments, medical textile, mobiltech, hometech, anti-odour and antibacterial knitted fabric for sports, medical and cosmetic uses in apparel in the facility. Expansion will complement the company’s core business and the plant is expected to start commercial operations in 12 to 15 months, adds Chirag Pittie, Director, SVP Global. SVP Group has also commenced commercial operations at its textile plant in Oman. The textile brand invested $150 million in this expansion. For Q1 of FY22, the company reported a growth of over 300 per cent Y-o-Y with net sales of Rs 412 crore.