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Singapore-based Zhong Bu Development Singapore Pte Ltd will be setting up an adhesive factory at the non-leather footwear component cluster at Perambalur in Tamil Nadu.
The company is proposing to invest ₹70 crore in the project, which is expected to create job opportunities for more than 200 people.
Zhong Bu is into producing and selling high-quality adhesives and related products for the footwear industry. It has production plants in China, Vietnam and Indonesia, with research and development facilities and technical service capabilities. It has patented technology and has technical cooperation with multinational manufacturers in the industry.
Zhong Bu has already set up an Indian subsidiary to implement the project.
The project work is expected to kick off by the Tamil Nadu Chief Minister MK Stalin at the upcoming TN Global Investor Meet, according to the company.
Phoenix Kothari Footwear, a joint venture between Kothari Industrial Corporation Ltd and Evervan Group of Taiwan, is developing the footwear park.
A non-leather footwear component cluster is coming up inside the footwear park at Perambalur in Tamil Nadu.
The Perambalur non-footwear component cluster is expected to house 30 factories. “We are getting several overseas players into the component cluster,” J Rafiq Ahmed, Chairman of Phoenix Kothari Footwear Ltd.
Phoenix Kothari Footwear has already tied up with 21 companies to set up facilities in the component cluster.
Only China has a non-leather component cluster in the world. Though Brazil did attempt, it did not fructify. “This is, perhaps, for the first time that a non-leather component cluster is taking concrete shape in the country and fits well with the Make-In-India policy of the Indian Government.
The non-leather component cluster would conform to ESG (environment, social and corporate governance) goals with a focus on creating jobs especially for women, he added.
Meanwhile, the first factory at the footwear park had already gone on stream. JR One Footwear Pvt. Ltd, a joint venture between Phoenix Kothari Footwear Ltd and Shoetown, has already started producing the Crocs brand of footwear.
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