Taiwan-Based Hong Fu Group To Set Up Non-Leather Footwear Unit In Tamil Nadu
(MENAFN- KNN India)
Taiwan-based Hong Fu Group to set up non-leather footwear unit in Tamil Nadu Chennai, Apr 5 (KNN) The Taiwan-based Hong Fu Group has decided to set up a non-leather footwear unit in Tamil Nadu at an investment of Rs 1,000 crore.
As per reports, the Tamil Nadu government has allotted 130 acres to the Taiwanese shoemaker to set up its unit at the Panapakkam SIPCOT in the state's Ranipet district.
The Footwear manufacturer had inked an agreement with the state government in this regard in April last year. The proposed plant is expected to create 20,000 jobs.
An investments to the tune of Rs 1,000 crore by Hong Fu would be made in phases over the next 3-5 years and the unit would also boost footwear exports from the state, an official statement said.
Hong Fu Group is one of the largest footwear manufacturers in the world and is in the process of opening new factories in Indonesia and India. The Taiwanese showmaker serves as host for global brands such as Nike, Puma and Converse, among others.
To boost the footwear sector, the Tamil Nadu government had in August 2022 unveiled the Footwear and Leather Products Policy 2022, through which it aimed to attract investments to the tune of Rs 20,000 crore and create over 200,000 jobs.
Under the policy, two special packages had been be offered, one for footwear and leather products (FLP) manufacturing and the other for FLP design studios. The state government had informed that the investments made from April 1, 2022, will be considered eligible for the incentives.
(KNN Bureau)
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