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Taiwanese shoe company keen to set up SEZ at Cheyyar
20
Sep '06
Growth Link, a subsidiary of Feng-Tay, shoe manufacturing company of Taiwan has signed Memorandum of Understanding (MoU) with Government of Tamil Nadu to set up Special Economic Zone at Cheyyar in Tiruvannamalai district and shoe manufacturing facility in that SEZ with an estimated investment of Rs300 crore.

This proposed SEZ will be established in an area of 275 acres and it expected to generate around 5,000 jobs initially and will rise to 15,000 after fully developed.

Feng-Tay manufactures more than 50 million pairs of footwear mainly sports shoes with an annual sales of over $770 million.

SEZ in Cheyyar would initially produce around 2 lakh pairs of shoes per month which would cross 10 lakh in next five years, Growth Link's Director Peter Nickelson stated.

He also informed that production process will start by 2007 or beginning of 2008.

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Courtesy: PIB

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