CM Stalin lays foundation for Rs 1,500 crore footwear unit in Ranipet; 25,000 jobs to be generated by Taiwanese firm

CHENNAI: Chief Minister MK Stalin on Monday laid the foundation stone for a Rs 1,500 crore Taiwanese footwear park at the Sipcot industrial estate at Panapakkam in Ranipet district.

To be developed by Taiwan-based Hong Fu Industrial Group, the world's second-largest manufacturer of non-leather footwear, the facility will ensure employment to 25,000 people of which 85 per cent would be women.

Deputy Chief Minister Udhayanidhi Stalin, Textiles Minister R Gandhi, officials of the state government and representatives of the Hung Fo group took part in the virtual groundbreaking ceremony held at the Secretariat here.

In a message on 'X', Chief Minister Stalin said, "This is the latest among the string of such investments in Tamil Nadu, attracted by our proactive outreach towards Taiwanese companies and pioneering footwear policy. In our mission to become the footwear capital of India, we are proud that we have been able to bring in a cumulative investment of Rs 6,550 crore in this sector, creating 86,150 job opportunities in the districts of Perambalur, Villupuram, Kallakurichi, Ariyalur and Ranipet. Another significant outcome is that most of these jobs will be for our young women!"

Hong Fu, the world's second-largest manufacturer of non-leather athletic footwear, produces approximately 200 million pairs of sports shoes annually, generating $3 billion in revenue. The firm's entry into the state is significant considering that it is a trusted partner for global brands such as Nike, Converse, Vans, UGG, Puma, Adidas, Reebok, HOKA, Under Armour, Puma and ON (a Swiss sportswear brand).

ON ITS FEET

Rs 1,500 cr -- Project investment

25,000 -- Jobs in offing

85% -- Jobs for women

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200 acres -- Land allotted at Panapakkam

Rs 6,550 cr -- Investments in footwear sector in State

86,150 -- Total job opportunities created