Tamil Nadu's Leap to Global Footwear Heights: Hong Fu's Monumental Factory Investment

Tamil Nadu Chief Minister M K Stalin initiated a Rs 1,500 crore footwear plant project by Hong Fu at SIPCOT Industrial Estate, Panapakkam. The plant is expected to employ 25,000, contributing to Tamil Nadu's economic goals. This is part of the chief minister's vision to transform the state into a trillion-dollar economy.

In a strategic move to enhance Tamil Nadu's economic landscape, Chief Minister M K Stalin laid the foundation for a groundbreaking Taiwanese footwear plant on Monday. The facility, located at SIPCOT Industrial Estate in Panapakkam, marks a significant investment of Rs 1,500 crore by Hong Fu, the world's second-largest non-leather footwear manufacturer.

This initiative, conducted virtually from the Secretariat, is projected to generate employment for 25,000 individuals. Chief Minister Stalin's international outreach, including visits to the UAE, Japan, Singapore, Spain, and the USA, underpins these industrial partnerships aimed at achieving a trillion-dollar economy in Tamil Nadu by 2030.

Hong Fu's foray into India, facilitated by a 200-acre land allocation at Panapakkam, underscores its global expansion strategy. With a portfolio that includes collaborations with illustrious brands like Nike, Converse, and Puma, Hong Fu's project promises to reinforce Tamil Nadu's position as an industrial powerhouse.

(With inputs from agencies.)