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25-11-2018

Oman Observer

Muscat, S V Pittie Sohar Textiles, which is developing the Sultanate’s first textile mill, has signed a Capacity Building Agreement (CBA) with the National Training Fund (NTF) to support the training of 1,000 Omanis at the S V Pittie Training Centre in Suhar.

The training programme is designed to provide the young recruits with the right foundational and technical skill-sets to be employed in the company’s textile project. The yarn manufacturing facility of the textile project is an entirely new enterprise in Oman and the initiative of training its workforce is in line with the National Programme for Enhancing Economic Diversification (Tanfeedh).

The agreement, marking the Sultanate’s 48th National Day, was signed by Sharifa Tahir Aidid, CEO National Training Fund, and Neelima Vyas, CEO SV Pittie Sohar Textiles, in the presence of Talal al Rahbi, Deputy Secretary-General of the Supreme Council of Planning, and other dignitaries.

Through a comprehensive practice-based curriculum, the Omani youth will be suitably prepared for robust and rewarding job opportunities that will drive the company’s sustainable growth in Oman. The dedicated Training Centre in Suhar will ensure continuous learning process for the existing as well as prospective employees. This will have a multiplier effect in inspiring further innovations and creating more job opportunities, the company said in a press statement.

SV Pittie Group, established in 1898, is one of the largest yarn manufacturers in India. SV Pittie Sohar Textiles is being built with an investment of $300 million on a 27-hectare area and will be equipped with 300,000 spindles and 7,000 rotors. Phase 1 of this project is scheduled to be commissioned later this month. The plant will import 100,000 tonnes per annum of cotton from various countries, primarily being USA, Australia and India. It will produce finished yarn, which will then be exported to major textile markets residing in China, Bangladesh, Turkey and Pakistan.

The Group hosted a high-level Omani delegation comprising Sultan al Habsi, Deputy Governor — Central of Bank of Oman; Abdul Salam al Murshidi, Executive President of State General Reserve Fund (SGRF); and Abdullah Ma’amary of the Sultan’s Special Forces Pension Fund, among other senior officials, at their facility in Rajasthan, India. They dedicated its textile training centre, the largest of its kind in India, to the Sultanate of Oman by naming it ‘S V Pittie Sohar Research and Training Centre’.

At the event, Chirag Pittie, Managing Director of S V Pittie Sohar, said: “We are grateful and honoured to welcome our valued shareholder partner, the Sultan’s Special Forces Pension Fund, our Finance Partner Bank Sohar, and senior officials of the delegation. Your support and patronage plays a pivotal role in strengthening the key foundation of the sector, which is its people. Together with your participation, we will build a highly capable and efficient workforce that will contribute to the long-term economic growth of this country.”

SGRF’s Al Murshidi expressed his “continued commitment in realising collaborative initiatives of capability building to diversify the Omani economy in various sectors including the textile cluster in Oman”.

Ahmed al Musalmi, Chief Executive Officer of Bank Sohar, the project Finance Partner, said, “Bank Sohar, being a strategic enabler for growth of large corporate stakeholders, is always committed to support the national drive for economic diversification, especially through projects that deliver opportunities for sustainable growth in business whilst creating jobs and career development opportunities for thousands of Omanis who will shape the future of our nation. Bank Sohar continues to play an effective and active role in being a partner to the economic growth and prosperity of the country and we will continue to look for such opportunities in the future.”

The SV Pittie Training Centre in Sohar, with the support of the National Training Fund and its shareholding and financial partners, will look to ensure a bright future for Oman’s youth, the statement added.