SVP Global Ventures has commissioned a one lakh spindle textile plant in Rajasthan. The capacity will increase to two lakh spindles as the new plant will produce high quality compact yarn of count 20 to 60.

The fully automated plant has a manufacturing capacity of 22,000 tons a year. The first phase of the project will employ 500 people and provide a stable source of livelihood to over 30,000 farmers. Funds for the expansion are being generated through a combination of debt, internal accruals and promoter infusion of equity.

The plant will manufacture combed compact yarn which will be exported to many countries, including China, and commands a premium in the market. The compact yarn is also low on hairiness, has higher strength and elongation, less fiber fly, and has significant advantages in downstream processing. So the project will generate higher margins as compared to other spinning mills.

As part of the package provided by Rajasthan, SVP has derived significant advantages like interest subsidy, VAT benefits and electricity duty rebate.

SVP Global Ventures is a diversified yarn manufacturing company. Headquartered in Mumbai, SVP owns three units in Tamil Nadu-- Coimbatore, Palani, and Madurai--for manufacturing polyester and cotton blended yarn. Manufacturing facility is fungible between specialized cotton, polyester and blended yarns.