A delegation of Hong Kong-based Intelligent SEZ development Limited met Andhra Pradesh Chief Minister YS Jagan Mohan Reddy at his camp office in Tadepalli on Wednesday and proposed to establish a footwear manufacturing firm in the state with an investment of Rs 700 crore.
The delegation included CFO Tim Kau To, Chairman Min Hsiu Tsai, APACHE internal control director Hsiao Yun Lee, APACHE administration director Muthu Govinda Swamy.
"The delegation met the Chief Minister and proposed to establish a sector-specific Special Economic Zone (SEZ) for footwear manufacturing in Andhra Pradesh with a total investment of Rs 700 crore with a potential to 10,000 jobs mostly comprising women," an official statement from the Chief Minister's Office (CMO) said.
'Intelligent' has planned to start the first phase of investment worth approximately Rs 350 crore within five years from the date of obtaining SEZ approval. Balance investment will be made to set up additional facilities, the statement said.
Intelligent is a 100 per cent subsidiary owned by Intelligent Investment limited, which is an associate partner of APACHE footwear and claims to be an exclusive supplier of footwear to global footwear brand Adidas.
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