German footwear major Von Wellx to invest Rs 300 crore in UP

By: |
November 4, 2020 3:45 AM

The two units, inaugurated by Additional Chief Secretary, Infrastructure & Industrial Development Department, Alok Kumar, have been set up in partnership with India’s Latric Industries Group at the Export Promotion Industrial Park (EPIP) in Agra.

A total of around 2,000 employment avenues have been created in these units, having a production capacity of 2.5 million pair of shoes annually.A total of around 2,000 employment avenues have been created in these units, having a production capacity of 2.5 million pair of shoes annually.

German footwear major Von Wellx inaugurated two footwear units in Uttar Pradesh on Tuesday. The company, which aims to produce around five million pair of shoes annually in these manufacturing units, would invest around Rs 300 crore in phases in three projects in the state, generating around 10,000 jobs.

The two units, inaugurated by Additional Chief Secretary, Infrastructure & Industrial Development Department, Alok Kumar, have been set up in partnership with India’s Latric Industries Group at the Export Promotion Industrial Park (EPIP) in Agra. A total of around 2,000 employment avenues have been created in these units, having a production capacity of 2.5 million pair of shoes annually.

“It is an important milestone in post Covid-19 era that an investment proposal has been materialised within a short span of five months”, Kumar said.

Referring to the two units, Latric Industries Group CEO Ashish Jain informed that it was a multiple footwear project, which would produce 2.5 million pairs across difference segments annually. He said that it would exemplify synergy of German technology and demographic dividend of Uttar Pradesh. The Latric Industries would be the exclusive collaborator for technology transfer, research, development, marketing and production.

It was also informed that a new factory is expected to be set up near Jewar (Yamuna Expressway Industrial Development Authority) in 10,000 square metres by December 2020, while another manufacturing unit is proposed at Kosi-Kotwan, Mathura in 7.5 acres by Von Wellx.

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