Kothari Industrial Corporation Limited (KICL) is poised to make a significant impact on Tamil Nadu’s industrial landscape through a series of strategic expansions and investments. In partnership with Taiwan’s Evervan Group, KICL’s subsidiary, Phoenix Kothari Footwear Limited, has signed a memorandum of understanding (MoU) with the Tamil Nadu Industrial Guidance and Export Promotion Bureau. This MoU outlines plans to establish non-leather footwear manufacturing units in the districts of Karur and Perambalur, with a substantial investment of ₹5,000 crore.
These projects are expected to generate employment opportunities for approximately 50,000 individuals, significantly benefiting the local communities. The initiative aims to uplift the industrially-backward regions of Karur and Perambalur, providing a boost to the local economy and creating numerous job prospects, especially for women.
This development aligns with KICL’s broader strategy to expand its footprint in Tamil Nadu. The company is also focusing on its core business by setting up a factory to produce NPK (nitrogen, phosphorus, and potassium) fertilizers with a capacity of 12 million tonnes per annum. Additionally, KICL is establishing an industrial park that can house manufacturing units for multiple products such as leather, footwear, and automobile accessories in southern Tamil Nadu, with an investment of ₹1,500 crore. citeturn0search0
These initiatives underscore KICL’s commitment to contributing to Tamil Nadu’s economic development and industrial growth. By fostering strategic partnerships and investing in diverse sectors, KICL is set to play a pivotal role in the state’s journey towards becoming a $1 trillion economy by 2030. read more here