Trichy: South Korean athletic footwear manufacturer TKG Taekwang India has received approval to invest Rs 514.7 crore in the first phase of a footwear manufacturing project at the Navalpattu Special Economic Zone (SEZ) near Trichy.The approval was issued by the Unit Approval Committee of the Madras Export Processing Zone (MEPZ), a Special Economic Zone under the Union Ministry of Commerce. MEPZ, along with the Electronics Corporation of Tamil Nadu (Elcot), has identified about 68.8 acres at the Navalpattu SEZ, close to Trichy airport, for the project.The export-oriented non-leather footwear facility is expected to generate employment opportunities for around 13,364 people at full capacity.“We have asked the manufacturer to commence footwear production within three years. The letter of approval was sanctioned within a record period of seven working days. This is a major investment for a tier-II city like Trichy,” said Alex Paul Menon, Development Commissioner, MEPZ SEZ, Chennai.Tamil Nadu govt sources confirmed the investment and land allocation. The land will be leased to the company on a long-term basis, while the overall investment is expected to rise to Rs 1,379 crore in subsequent phases.Officials said Trichy was chosen because of its connectivity to national highways, facilitating the movement of raw materials and finished goods to export markets.“Perambalur Sipcot Industrial Park has already emerged as a hub for non-leather footwear production. With this high-value investment in the footwear sector in Trichy and the revival of Navalpattu SEZ, the region’s export performance will improve significantly,” said N Manivannan, a member of Trichy Intra-City Development Endeavours (TIDES).
