Oman Economic Review – August 2018

6868 August 2018

S

V Pittie Sohar Textiles held the

foundation laying ceremony for a

training centre at its site in Sohar

Free Zone, under the auspices of

HE Sultan Salim Al-Habsi, deputy chair-

man, Central Bank of Oman. The compa-

ny’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.

The 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.

The unit is being built with an investment

of $300mn, on a 27 hectare area. The fa-

cility will be equipped with 150,000 spin-

dles and 2,400 rotors, and will provide

nearly 1,500 job opportunities. Financed

by Bank Sohar, the plant is targeted to be

commissioned later this year.

The imports of raw material – cotton

will be from the US, Australia, Europe

and Turkey through Sohar Port. It will

produce finished yarn amounting to

6,000 tonnes annually, which will then

be exported to textile markets such as

China, Vietnam, Pakistan, Bangladesh.

“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 better-

ment 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

$300mn 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.

The establishment of SV Pittie’s cotton-

yarn plant in Sohar Free Zone, is the

first step in establishing downstream

industries in the textile sector in the

Sultanate. The new plant, coupled with

the training center, highly competitive

logistics facilities, and a young, well-

educated local workforce, will open

up a number of future opportunities

for investments in knitting, weaving,

spinning, and fabric manufacturing,

which could in turn create a thriving

industrial cluster, within the local

community.

MANUFACTURING

LEADING THE WAY

SV Pittie’s cotton-yarn plant in Sohar Free Zone is expected to open up

a number of future opportunities for investments in knitting, weaving,

spinning, and fabric manufacturing, which would pave the way for a

thriving industrial cluster