₹245-crore South Korean footwear unit to boost industrial growth in Annamayya district, says Collector
South Korea-based Boyoung Company plans to invest ₹245 crore in a new footwear components manufacturing unit in Andhra Pradesh's Annamayya district. The project is expected to boost local industrial growth and create significant employment opportunities.
Why it matters
Foreign direct investment in manufacturing hubs is a key driver for regional economic development and job creation in India.
District Collector Nishant Kumar said that a ₹245-crore export-oriented footwear components manufacturing unit proposed by South Korea-based Boyoung Company is set to boost industrial growth and employment opportunities in Annamayya district.
Speaking to the media here on Wednesday, the Collector said that discussions with the company representatives looked encouraging. “The district administration has assured them of full support in facilitating investments, including land allotment, statutory clearances and inter-departmental coordination,” he said.
Earlier, the Collector joined the delegation to inspect the Tatiguntapalli Industrial Park in Valmikipuram mandal for the proposed project. The investment, being planned in collaboration with SKI Corp Group, will be implemented in three phases, he said. The unit will manufacture shoelaces, webbings and other footwear accessories for supply to leading international brands.
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