The Hong Fu Group, a Taiwan-based footwear company, has been granted 130 acres of land by the Tamil Nadu government in Panapakkam SIPCOT, located in the Ranipet district of the state. The purpose of this allocation is for the construction of a factory that will produce non-leather shoes worth Rs. 1,000 crore, with an expected generation of 20,000 job opportunities. Hong Fu is a renowned footwear manufacturer that caters to various global brands, such as Nike, Puma, and Converse, among others. The company had signed a memorandum of understanding with the state government for this project in April of the previous year. One of the biggest shoe manufacturers in the world, Hong Fu Group, is now building new plants in Indonesia and India.
According to an official statement, a land area of 130 acres in Ranipet has been earmarked for the proposed project, and the allocation order was presented to the President of Hong Fu, TY Chang, in the presence of the State Industries Minister Thangam Thennarasu at an event held at the secretariat. The project is anticipated to generate 20,000 employment opportunities, including 2,650 indirect jobs. Hong Fu’s investment of Rs. 1,000 crore will be made in phases over the next 3-5 years, and the unit is expected to enhance footwear exports from the state. Guidance Tamil Nadu, the state’s nodal agency for investment promotion and single-window facilitation, stated, “Tamil Nadu is stepping up in the global footwear industry by granting land allocation order of 130 acres in Ranipet district to Hong Fu, a prominent Taiwan-based footwear manufacturer, in collaboration with Florence Shoes. Under the policy, two special packages had been be offered — one for footwear and leather products (FLP) manufacturing and the other for FLP design studios. The state government had said the investments made from April 1, 2022, will be considered eligible for the incentives.
