Growth-Link proposes to set up SEZ for shoes

enfCHENNAI: Growth-Link, subsidiary of Taiwanese shoe manufacturer Feng-Tay, has proposed to set up a Special Economic Zone and a manufacturing unit at Cheyyar in Thiruvanamalai district at an investment of Rs. 300 crore.

A MoU to this effect was signed between representatives of the company and the government. Feng-Tay produces over 50 million pairs of shoes annually, particularly sports shoes, and in 2005 the company recorded sales to the tune of US$ 770 million.

The SEZ would be set up in an area of 275 acres and initially provide employment to 5,000 people, which would later be increased to about 15,000. Meanwhile, Peter Nickerson, director of Growth-Link told reporters that production would commence by 2007-end or beginning of 2008.

Nearly two lakh footwear is expected to be produced in a month and this would be increased gradually to 8-10 lakh in the next five years, he said.

Geographical location and port facilities in the state made it a viable option for the company to set up the unit here, he added.

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