HK delegation proposes footwear manufacturing SEZ in India
today Oct 22, 2019
Intelligent SEZ Development Ltd in Hong Kong has proposed to set up a special economic zone (SEZ) for footwear manufacturing in Andhra Pradesh by investing Rs 700 crore ($99 million).
It plans to start the first phase by investing Rs 350 crore within five years from the date of project approval. A company delegation recently met state chief minister YS Jagan Mohan Reddy.
The company is a subsidiary of Intelligent Investment Ltd, which is an associate partner of Apache footwear India Pvt Ltd (India), and claims to be an exclusive supplier of footwear to global footwear brand Adidas, according to a press release from the chief minister’s office.
On the same day, a six-member delegation from Singapore also met Mekapati Goutham Reddy, AP minister for industries, commerce and information technology and discussed setting up of skill development training programs in the state.
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