Phoenix Kothari Footwear is planning to invest Rs 5,000 crore for expansion of its non-leather footwear industrial park in Perambalur.

A joint venture between Kothari Industrial Corporation and Taiwan based Evervan Group, the company has doubled its investments for the phase II of the project, after spending Rs 2,500 crore for the initial phase in Central Tamil Nadu.

J Rafiq Ahmed, chairman, Phoenix Kothari Footwear said, the expansion is coming up in an area of 500 acres.

"Four leading international non-leather footwear players will set up their units in the expanded facility. It will provide employment opportunities for about 50,000 people," he was quoted as saying by TOI.

Currently, two units are operating out of the phase I facility including JR One Footwear, a joint venture between Phoenix Kothari Footwear and Shoetown, which started making Crocs brand of footwear in November last year. The Taiwanese footwear giants are manufacturing seven global brands including Nike and Adidas across factories in different countries including China.

The Perambalur industrial park established in an area of 240 acres also has a non-leather component cluster to produce components required for footwear manufacturing.