Representatives of Hong Kong-based Intelligent SEZ Development Limited met Andhra Pradesh Chief Minister YS Jagan Mohan Reddy at his camp office in Tadepalli on Wednesday. The delegation proposed to establish a sector-specific Special Economic Zone (SEZ) for footwear manufacturing in Andhra Pradesh by investing Rs 700 crore. The proposal is also touted to generate about 10,000 jobs in the State, mostly for women.
The delegation which met the Chief Minister was comprised of Tim Kau To, CFO, Min Hsiu Tsai, Chairman, Hsiao Yun Lee, Internal control director, APACHE, and Muthu Govinda Swamy, Administration director (APACHE).
ఏపీలో రూ.700 కోట్ల పెట్టుబడులకు ఇంటెలిజెంట్ ఎస్ఈజెడ్ లిమిటెడ్ ప్రతిపాదన. ముఖ్యమంత్రి శ్రీ వైయస్.జగన్తో కంపెనీ ప్రతినిధుల భేటీ. pic.twitter.com/yNpE4K6tY3
— CMO Andhra Pradesh (@AndhraPradeshCM) October 16, 2019
Intelligent, reportedly, plans to invest Rs 350 crore in the first phase within five years after getting the approval for the SEZ while the remaining amount will be invested to set up additional facilities. Reportedly, the Hong Kong firm is a subsidiary owned Intelligent Investment Limited. which is an associate partner of APACHE footwear and claims to be the exclusive supplier of footwear to Adidas.