Taiwan footwear firm to set up Rs 1,000-crore manufacturing unit in TN, inks MoU

Taiwan-based Hong Fu Group would invest Rs 1,000 crore to set up a footwear unit in Tamil Nadu and signed a memorandum of understanding with the State government in this connection.

The MoU was signed between top officials of the company 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 at the Secretariat here.

The facility for which identification of land was under process would generate 20,000 jobs once fully operational with majority of the employees being woman, an official release said.

The investments would be made in phases over the next three to five years and the unit would also boost footwear exports from the State.

Hong Fu serves a host of global footwear brands such as Nike, Puma and Converse, among others, the release said.