CHENNAI: Hong Fu Industrial Group of Taiwan, one of the leading manufacturers of footwear in the world, has signed a Memorandum of Understanding with Tamil Nadu to invest Rs 1,000 crore over the next three to five years for a production unit in the State.
The plant is expected to generate 20,000 jobs and most of the workers will be women. The MoU was signed in the presence of Chief Minister MK Stalin and Hon Fu Industry chairman TY Chang on Thursday at the Secretariat.
The unit will produce and export footwear from Tamil Nadu, industries minister Thangam Thenarasu said. This is a non-leather based footwear industry and it doesn't require much water, he said. The Taiwanese firm has been involved in designing, manufacturing and sale of footwear since 2003.
It manufactures footwear for several global brands such as Nike, Puma, Converse and Vans. It also has plants in China and Vietnam. Company officials have been inspecting seven to eight places near Chennai and the site for setting up the plant has not been finalised yet, the minister said.
Chief Secretary Irai Anbu, Industries Secretary S Krishnan, TN Industrial Guidance and Export Promotion Bureau MD Pooja Kulkarni, Hong Fu group’s General Manager Jenni Sen, and Florence Shoe Company Managing Director Panaruna Akeel Ahmed were also present.