Now Reading: South Korean firm’s ₹245-cr unit to boost Annamayya district
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South Korean firm’s ₹245-cr unit to boost Annamayya district
South Korea's Boyoung Company plans to set up a ₹245-crore footwear components manufacturing unit in Annamayya district, Andhra Pradesh. District Collector Nishant Kumar said the export-oriented plant will be built in three…
The Story in Brief
South Korea's Boyoung Company plans to set up a ₹245-crore footwear components manufacturing unit in Annamayya district, Andhra Pradesh. District Collector Nishant Kumar said the export-oriented plant will be built in three phases at the Tatiguntapalli Industrial Park in Valmikipuram mandal, with nearly 40 acres needed initially.
The unit will produce shoelaces, webbings and other accessories for international brands, in collaboration with SKI Corp Group. Kumar said the administration will support land allotment and clearances. Company representatives expressed satisfaction with the park's infrastructure and highway connectivity, power and water access.
The Indian Opinion
The ₹245-crore investment sounds promising for a backward region, but Annamayya has seen announcements before that moved slowly. The Collector's assurances of full support are welcome, but the real test is whether land acquisition and statutory clearances proceed without delays. Will the promised three phases actually be completed, and how many local workers will get jobs beyond construction? Watch for the first phase's start date.
Source: thehindu.com
This story was synthesised by AI from the source linked above.
