12 April 2022, Mumbai:
Taiwanese footwear manufacturer Hong Fu Industrial Group will invest Rs 1,000 crore over the next five years to set up a factory in Tamil Nadu.
As per the memorandum of understanding (MoU) signed with the Tamil Nadu government, the plant will employ 20,000, mostly women, and manufacture non-leather-based footwear that does not require much water.
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The unit will export footwear from global brands like Nike, Puma, Converse and Vans. It also has plants in China and Vietnam.
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.
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It will give a major impetus to the footwear production and export in the State. Hong Fu serves a host of global footwear brands such as Nike, Puma, and Converse, among others.
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