Zhong Bu Development Singapore Pte. Ltd. said it will set up an adhesive factory at the non-leather footwear component cluster that is coming up inside the footwear park at Perambalur in Tamil Nadu.
The company said it had already set up an Indian subsidiary to implement the project adding the foundation stone of the factory would be laid during the upcoming Tamil Nadu Global Investor Meet (TNGIM).
The footwear park is being developed by Phoenix Kothari Footwear, a joint venture between Kothari Industrial Corporation Ltd. (KICL) and Evervan Group of Taiwan.
J. Rafiq Ahmed, Chairman, Phoenix Kothari Footwear Ltd in a statement said. “Our aim is to get the factory on stream within six months from the date on which the foundation is laid.”
The Perambalur non-footwear component cluster is expected to house 30 factories. Phoenix Kothari Footwear Ltd. has already tied up with 21 companies to set up facilities in the component cluster.
Zhong Bu is into the production and sale of adhesives and related products for the footwear industry. It has production plants in China, Vietnam and Indonesia, with research and development facilities and technical service capabilities.
Mr. Ahmed said, the park is a significant national initiative in the post-COVID era and in the wake of the China Plus One strategy pursued by global manufacturers.
“This clearly fits in with the Make-In-India policy of the Government of India. Tamil Nadu will be the next Vietnam,” he said.
