The Tamil Nadu government has provided Hong Fu, a Taiwanese footwear manufacturer, with a land allotment letter as the state gets ready for the company to set up a manufacturing plant.

In April 2022, a deal was made between the state government and Hong Fu to develop a footwear manufacturing facility in Tamil Nadu with an investment of $1 billion over three to five years. Chief Minister MK Stalin was present for the signing.

According to local media sources, the proposed plant is anticipated to generate 20,000 employment, including 2,650 indirect jobs.

An official release stated that 130 acres of land has been identified in the Ranipet district for the project, and the land allotment order was presented to Hong Fu president TY Chang by the minister of industries, Thangam Thennarasu, at an event held in the secretariat.