MoU signed for investment of ₹1,000 crore into T.N.

It is expected to provide jobs to 20,000 people

A Memorandum of Understanding (MoU) was signed between the Tamil Nadu government and footwear major Hong Fu of Taiwan in the presence of Chief Minister M.K. Stalin on Thursday, for making an investment to the tune of ₹1,000 crore in the State.

The proposed investment, over a period of three to five years, is expected to provide employment to over 20,000 people and likely to provide a fillip to manufacture and exports of footwear from Tamil Nadu, an official release said.

Industries Minister Thangam Thennarasu, Chief Secretary V. Irai Anbu, representatives from Hong Fu and senior officials of the State government were present. Hong Fu manufactures footwear for Nike, Puma, Converse, Vans, among others, it said. “Steps are on to identify a location for Hong Fu in Tamil Nadu. Once the site is identified, work would commence towards setting up the industrial unit,” it said.

Mr. Thennarasu said most of the 20,000 persons, who would get employment through the MoU, would be women. Asked about the possible location of the new industrial project, the Minister said the delegation has visited a few places and will continue to visit a few more. Seven to eight locations are likely to be considered before finalising a location. Road connectivity, port connectivity, availability of labour force and electricity were among the factors being considered, he said.

Labour force within 60-70 km radius from the site are likely to get employment once the unit commences operation. Asked about the availability of water for the project, Mr. Thennarasu clarified that since it would be non-leather-based footwear, it would not be an issue.