A South Korean conglomerate named Hwaseung has announced to setup its non-leather sports shoe manufacturing hub in the NDA-led State of Andhra Pradesh with an investment of $150 million.
Coincidentally, Hwaseung had signed a Memorandum of Understanding (MoU) with INDI Alliance-led Tamil Nadu government in August this year.
However, the global conglomerate has now decided to shift its plant to Andhra Pradesh’s Kuppam. For the unversed, Kuppam is the Vidhan Sabha seat of CM Chandrababu Naidu.
Hwaseung is supplier to global sports brands including Adidas. In a statement, the CEO of its footwear division Bob Shor-rock stated, “Our investment is mostly about employment. When we have fully completed our three phases, we will have about 20,000 employees.”
“This will be primarily for export, but in fu-ture we will manufacture for do-mestic use as well,” he added.
“We worked closely with Guid-ance in Tamil Nadu and Econom-ic Development Board (EDB) in Andhra Pradesh and after our long review, we felt Andhra Pra-desh is the right place to come,” Shorrock pointed out.
It must be mentioned that the Andhra Pradesh government has alloted 100 acres of land to Hwaseung in Kuppam. The South Korean conglomerate will manufacture 20 million pairs of sports shoes annually from the plant.
