SV Pittie Sohar Textile lays the foundation stone of training centre
S V Pittie Sohar Textiles (FZC) held the foundation laying ceremony for a training centre at its site in Sohar Free Zone on Thursday, under the auspices of HE Sultan Salim Al-Habsi, Deputy Chairman of the Board of Governors, Central Bank of Oman.
The company’s Board of Directors, ministry officials, key stakeholders, senior management and staff were in attendance to celebrate the occasion at the site followed by an event at Crowne Plaza Hotel in Sohar.
SV PittieSohar Textiles LLC’s manufacturing facility, construction on which has already begun,is expected to be operational in March 2019. The training centre facility is expected to create job opportunities for relevant skill-sets in the region.
“We at S.V. Pittie, are delighted to break ground on our training centre for cotton-yarn manufacturing skills today, and usher in a new era of progress in manufacturing education in the Sultanate,” Chairman of the group, Vinod Pittie said.
“The training centre is a fine example of people coming together for the betterment of the community in particular, and the economy at large. I would like to thank all ministry officials, our key stakeholders and partners who have made it possible for us to reach our goals and break-ground on this wonderful project today. Their support has made this ground-breaking ceremony possible, and their help goes beyond the training center and plant,” he added.
“I’m delighted to see the various regulatory authorities, as well as the community come together to make this new addition in Oman. Together, we look forward to contributing to the economic development of the nation,” Pittie said.
ShriVallabh Pittie Industries (SVP) Group, a diversified yarn manufacturing company based in India, signed a land lease agreement for construction of $300 million cotton yarn plant in Sohar Freezone. The plant in the free zone area likely to begin commercial operations from around 2019 will generate more than 1,000 employment opportunities.
SV Pittie Sohar Textiles FZC-LLC, a wholly owned subsidiary of Bombay listed SVP Global Ventures Ltd, will operate the first cotton yarn plant in Sohar Freezone, according to Omanese media reports. With the capacity to manufacture more than 70,000 tonnes on an annual basis, the finished yarn will be exported to various international markets including Bangladesh, Pakistan, Vietnam, Portugal, Turkey and China. The plant will import 100,000 metric tonnes of cotton fibre for production. Of this, nearly 50 per cent will be imported from the United States and the remaining from India and Australia.