Taiwan-based company signs MoU for ₹2,302 crore in Tamil Nadu

The MoU was signed with High Glory Footwear, a subsidiary of Taiwan-based Pou Chen Corporation, in the presence of Chief Minister MK Stalin.

ByPTI

Published Apr 17, 2023 | 4:46 PM ⚊UpdatedApr 17, 2023 | 4:46 PM

The signed MoU being handed over to MK Stalin. (Screengrab)

The Tamil Nadu government on Monday, 17 April, signed a memorandum of understanding (MoU) with a well-known footwear maker for an investment of ₹2,302 crore in the state.

The MoU was signed with High Glory Footwear, a subsidiary of Taiwan-based Pou Chen Corporation, “the world’s largest branded footwear manufacturer,” in the presence of Chief Minister MK Stalin, a tweet by Guidance Tamil Nadu, said.

It is the state government’s nodal agency for investment promotion and single-window facilitation.

அடுத்த 12 ஆண்டுகளில் ரூ.2302 கோடி முதலீடு & 20,000 நபர்களுக்கு வேலைவாய்ப்பு அளிக்கும் வகையில் உளுந்தூர்பேட்டை தொழிற்பேட்டையில் காலணி உற்பத்தி ஆலை நிறுவ, பௌ சென் குழுமத்தைச் சேர்ந்த High Glory Footwear India Pvt Ltd-உடன் MoU மேற்கொள்ளப்பட்டது.

சீரான வளர்ச்சியை நோக்கி நடைபோடுவோம்! pic.twitter.com/aMir8Bu34E

— M.K.Stalin (@mkstalin) April 17, 2023

‘Employment for more than 20,000’

“Over the next 12 years, this partnership will generate employment opportunities for more than 20,000 people in the non-leather footwear sector, especially for the youth and women in and around the Kallakurichi district,” it added.

An official release said the manufacturing unit will come up at SIPCOT, Ulundurpet in Kallakurichi.

The investment has been attracted in the wake of the government releasing a Footwear and Leather Products Policy 2022 in August last, it said.

It was also in line with the government’s policy of ensuring industrial growth in the state’s backward districts and would greatly help the newly created Kallakurichi district in employment generation, the release added.

Industries Minister Thangam Thennarasu and officials from the state government and the company were present.