Amaravati: A delegation of Hong Kong based Intelligent SEZ development Limited (Intelligent) met Chief Minister YS Jagan Mohan Reddy at camp office in Tadepalli.
Mr. Tim Kau To, CFO, Mr. Min Hsiu Tsai, Chairman, Mr Hsiao Yun Lee, Internal control director, APACHE, Mr. Muthu Govinda Swamy, Administration director (APACHE) met Chief Minister and proposed to establish a sector specific Special Economic zone (SEZ) for footwear manufacturing in Andhra Pradesh with total investment of 700 crore with potential to 10,000 jobs mostly consisting of women.
Intelligent also planned to start the first phase of investment, with approximately 350 crore within 5 years from the date of obtaining SEZ approval. Balance investment will be made to set up additional facilities.
Intelligent is a 100% subsidiary owned by Intelligent Investment limited, which is an associate partner of APACHE footwear and claims to be an exclusive supplier of footwear to global footwear brand ADIDAS.
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