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TN signs MoU with Taiwanese footwear group

TN signs MoU with Taiwanese footwear group

A Memorandum of Understanding (MoU) was signed yesterday in the presence of Chief Minister MK Stalin at the General Secretariat with the Taiwanese Hong Fu Industry Group, a leading manufacturer of footwear in the world, to set up business in Tamil Nadu.

With this, over the next 3 to 5 years, a gradual investment of up to Rs 1000 crore and employment of 20,000 people will be made. This employment scheme will provide more employment to women. This investment will give a major impetus to the production and export of footwear in Tamil Nadu.

Hong Fu Industry Group The Taiwanese Hong Fu Industry Group has been designing, developing, manufacturing and selling footwear for sportspersons since 2003. The company manufactures and supplies footwear to various reputed companies worldwide leading sellers of sports shoes such as Nike, Puma, Converse, and Vans. The company is in the process of selecting a place to start a business in Tamil Nadu. Once the site is selected, the factory start-up works will take place soon.