The Taiwan-based Feng Tay group, promoter of the Cheyyar special economic zone (SEZ), is planning to invest an additional Rs 200-250 crore in the SEZ for expanding its production capacity by setting up new facilities.
The company is a manufacturer and supplier for Nike, one of the world’s leading sports shoe brands, and the planned investment is part of the Rs 300-crore spend that the group had committed to when it signed a Memorandum of Understanding in 2006.
Tapesh Sinha, general manager (India operations), Feng Tay group, said the company had so far invested Rs 190 crore in the SEZ to set up a facility with a production capacity of 5.5 lakh pairs a month. “As the demand is growing, we are planning to set up three more facilities inside the zone with a similar capacity,” he said.
The 275-acre Cheyyar SEZ is located at Cheyyar taluk in Tiruvannamalai district, 87 km from Chennai. It currently employs 5,713 people and is likely to triple the number once the new units become operational, according to Sinha. The cumulative exports from the zone since 2008, when the production commenced, is Rs 187 crore.
