Hong Kong-based Intelligent Investment Limited (IIL) has proposed to set up a Special Economic Zone for footwear manufacturing in Andhra Pradesh, a top state government official said on Wednesday.
It proposed to invest 100 million USD (Rs 700 crore) in two phases and create 10,000 jobs, mostly for women, in footwear manufacturing, Principal Secretary (Industry and Investments) Rajat Bhargava said.
IIL Chairman Min Hsiu Tsai, CFO Tim Kau To and other officials met Chief Minister Y S Jagan Mohan Reddy and Industry Minister M Goutam Reddy here on Wednesday and discussed the SEZ proposal.
Bhargava said Intelligent was currently the exclusive supplier of footwear to global brand Adidas.
Its associate partner Apache SEZ Development Limited has an SEZ at Mambattu in SPS Nellore district, where 12 lakh pairs of footwear is manufactured every month, according to Bhargava.
Apache, which commenced its operations in 2006, so far invested 100 million USD (Rs 700 crore) and has 11,000 staff on its rolls.
It also has another unit in Vietnam, Bhargava added.
Intelligent would start the first phase with a 50 million USD investment within five years and scale-up the facilities in the second phase, the Principal Secretary said.
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