MUSCAT, NOV 10 - SV Pittie Sohar Textiles has announced the successful commencement of production on Unit 2 at its world-class cotton yarn production facility in Freezone Sohar. The company already commenced production of Unit 1 in December 2018 and since then has been committed to building capacity, providing training and employment for Omani nationals. The official inauguration of the SV Pittie Sohar Textiles Unit 2 at Sohar Free Zone will take place on Wednesday, November 20, 2019 at Sohar Freezone. Shaikh Abdullah bin Nasser al Bakri, Minister of Manpower, will be the Guest of Honour.
Vinod Pittie, Chairman, ShriVallabh Pittie Group, commented: “The commencement of production at SV Pittie Sohar Textiles marks the beginning of a new industrial journey for Oman, opening up a robust growth sector, and in placing Oman firmly and strategically in the global textile industry.
SV Pittie Sohar Textiles is a result of the vision and leadership of His Majesty Sultan Qaboos and his government for creating a favourable and excellent business environment for investments and promotion of non-oil exports. In line with the ambition for diversification, SV Pittie Sohar Textiles, has been established as a 100 per cent export oriented Omani textile company.”
As a first of its kind in the entire GCC region, the company has the unique advantage of being strategically located on the global trade route. The company is envisaged to bring in non-oil export revenue to the tune of approximately $240 million every year, exporting cotton yarn to countries such as China, Pakistan, Bangladesh, Vietnam and other countries.
“Apart from the economic opportunities, the company has pledged jobs to 1,000 Omani women, who are under training at the Training Centre being set up with the fullest cooperation of the National Training Fund and Ministry of Manpower. The Centre incorporates experiential learning through advanced textile machinery installed. A big step towards women empowerment,” Vinod Pittie added.
From a micro-economic perspective, the company is laying strong foundations to nurture the culture of entrepreneurship in the county, and support the government’s efforts to boost employment and job creation through SMEs.
“We invite aspiring entrepreneurs to discuss and engage with us on various SME opportunities. With the opening of this new industry sector, we have enabled creating a number of upstream opportunities for agriculturists and downstream opportunities for knitting, weaving and garmenting entrepreneurs.”
Also present at the media briefing were: Chirag Pittie — Managing Director; Neelima Vyas — Director Banking & Finance; Krishna Rao —Director, Yaqoub al Maamari, Vice President; and Prakah Saraogi, Exec Vice President. SV Pittie Sohar Textiles is part of ShriVallabh Pittie Group, a more than 100 years old group and one of the largest manufacturers of compact cotton yarn in the world.
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