A delegation of Hong Kong-based Intelligent SEZ Development Limited (ISDL) met Chief Minister Y.S. Jagan Mohan Reddy at his camp office in Tadepalli on Wednesday.
ISDL Chairman Min Hsiu Tsai and Chief Financial Officer Tim Kau To, APACHE Director (internal control) Hsiao Yun Lee and administration director Muthu Govinda Swamy proposed the establishment of a sector specific Special Economic Zone for footwear manufacturing in Andhra Pradesh with a total investment of ₹700 crore with a potential to create 10,000 jobs, mostly for women.
According to an official release, ISDL planned to initiate the first phase of investment with approximately ₹350 crore over a period of five years from the date of obtaining approval for the SEZ.
ISDL is a 100% subsidiary owned by Intelligent Investment Limited which is an associate partner of APACHE footwear and claims to be an exclusive supplier to global footwear major ADIDAS.
