Jhalawar city, of Rajasthan, will get 1 lakh spindles textile plant through SVP Global Ventures. It’s reportedly a manufacturing company of diversified yarn. For this SPV will get material advantages and incentives like VAT benefit, interest subsidy and electricity duty rebate from Rajasthan government’s package.
The installed plant will have the capacity of manufacturing 22,000 tones per annum. The company in its BSE statement on Wednesday said “The first phase of the project will employ 500 people and provide a stable source of livelihood to over 30,000 farmers.”
The produced yarn will be taken for exporting purposes to various other countries for example, China. This will ensure higher margins of income as compared to other spinning mills.
Managing Director of SPV Global Ventures, said, “The textile plant is commissioned under resurgent Rajasthan project on 25 acre land in nine months.”
