Mr. M. K. Stalin, Tamil Nadu Chief Minister, inaugurated the SIPCOT Industrial Park at Eraiyur in Perambalur district, and laid the foundation stone for the Phoenix Kothari Footwear Park. This is the first SIPCOT industrial park in the industrially backward district of Perambalur. The park established on 243.49 acre in Eraiyur on the Chennai-Tiruchy national highway follows the announcement of the government for 2022-23 to promote industrial development in the districts of Coimbatore, Perambalur, Madurai, Vellore and Tiruvallur. The measures are aimed at meeting the CM’s goal of achieving $1-trillion economy by 2030-31.
It is expected that in the near future, non-leather footwear and related industries in Perambalur district would attract an investment of Rs. 5,000 crores and create employment opportunities for 50,000 people. Preference would be given to women in providing employment in these industries, and the slew of initiatives would give impetus to the economic development of Perambalur district. Already, two MoUs committing an investment of Rs. 1,700 crore were signed with Kothari Phoenix company on August 23, 2022, after the government unveiled a separate policy for footwear and leather goods manufacturing. Thus, the 12 MoUs for a total investment of Rs. 2,440 crore would ensure employment opportunities for 29,500 people.
The Guidance Tamil Nadu – State nodal agency for investment promotion and single window facilitation – signed 10 MoUs with the Phoenix Kothari Footwear and its 10 affiliated companies including those from Taiwan for an investment of Rs. 740 crore. These would ensure jobs for 4,500 people.