Hong Fu Industrial Group, a Taiwanese footwear company, plans to open a manufacturing facility in Tamil Nadu worth Rs 1,000 crore
Hong Fu’s investments would be phased in over the next three to five years, and the business will help improve Tamil Nadu’s footwear exports.
Hong Fu Group, based in Taiwan, has agreed to spend Rs 1,000 crore in a footwear plant in Tamil Nadu and has signed a memorandum of understanding with the state government in this regard.
The Memorandum of Understanding was signed at the Secretariat here by top firm executives and Guidance Tamil Nadu, the state investment promotion agency, in the presence of Chief Minister M K Stalin, Minister for Industries Thangam Thennarasu, and senior government officials.
உலக அளவில் காலணிகள் உற்பத்தியில் முன்னிலை வகிக்கும் தைவான் நாட்டைச் சார்ந்த ஹாங் ஃபூ தொழில் குழுமத்துடன் ரூ. 1000 கோடி முதலீட்டில் 20,000 நபர்களுக்கு வேலைவாய்ப்பு அளிக்கும் வகையில் புரிந்துணர்வு ஒப்பந்தம் மாண்புமிகு முதலமைச்சர் @mkstalin அவர்கள் முன்னிலையில் கையெழுத்தானது. pic.twitter.com/TA77Tnv1oO
— CMOTamilNadu (@CMOTamilnadu) April 7, 2022
According to an official release, the facility, for which land identification is in the works, will create 20,000 employment once fully operational, with the majority of the workforce being women.
The expenditures would be phased in over the following three to five years, and the unit would also help enhance the state’s footwear exports.
According to the press release, Hong Fu works with a variety of worldwide footwear brands, including Nike, Puma, and Converse.
