Feng Tay to invest Rs 250 cr

The Cheyyar Special Economic Zone (SEZ), promoted by Taiwan-based Feng Tay Group, is planning to invest additional Rs 200-250 crore in the zone. The company is a manufacturer and supplier for Nike, a sports shoe manufacturer.

The manufacturing unit Lotus Footwear Enterprises has been established in the Cheyyar SEZ, a 275-acre SEZ to manufacture sports shoes for Nike.

Tapesh Sinha, general manager, operations (India), Feng Tay Group said that the zone spread over 275 acres at Cheyyar Taluk, Tiruvannamalai district, 87 kms from Chennai, so far the company had invested Rs 190 crore in the zone for setting up a facility with a production capacity of 550,000 pairs a month.

“As the demand is growing up we are planning to set up three more facilities inside the zone with a similar capacity,” he added.

The company is planning to add another Rs 200-250 crore, of the additional Rs 300 crore, which was committed when the $770 million group signed a memorandum of understanding (MoU) in the year 2006.

Currently the zone employs 5,713 people and likely to triple the number after setting up the new units, added Sinha.

Feng-Tay manufactures more than 50 million pairs of footwear mainly sports shoes. It operates 14 factories across South-East Asia.