Andhra Pradesh Chief Minister YS Jagan Mohan Reddy laid the foundation stone for a ₹70-crore footwear manufacturing facility by Intelligent SEZ Development Limited at the Industrial Development Park in in YSR Kadapa district.
According to a statement from AP Economic Development Board, Intelligent SEZ Development is establishing the unit with a capacity to make 2.4 million pairs of footwear per annum. It has the potential to generate over 2,000 jobs.
This factory would be in addition to the proposed ₹700 crore facility in Inagaluru village, Srikaalahasti mandal in Chittoor district, which will employ about 10,000 people with a production capacity of 24 million pairs per annum.
Exclusive supplier
Intelligent SEZ is an exclusive supplier to global footwear brand Adidas and has presence in various locations along with its associate partner Apache Investment Holding Pvt Ltd in India, Vietnam, Thailand, and China.
At the launch, Ben Wang, Director General Taipei Economic and Cultural Centre, Chennai said, India is still a favourable destination for Taiwan businessmen despite the violence at a Taiwan-based company’s unit in Karnataka recently.
Wang praised the expansion of Apache Footwear as a timely message reassuring the continued growth of the Taiwan-India economic relations. Wang invited the Chief Minister to visit Taiwan next year to promote investments to the State.
The Apache SEZ Industrial Park in Tada employs 11,000 people directly and has an annual production of 18 million pairs.