The MoU was signed in the presence of state chief minister MK Stalin and Hon Fu chairman TY Chang.
The unit will export footwear, state industries minister Thangam Thenarasu was quoted as saying by media reports from the state.
The company manufactures footwear for global brands like Nike, Puma, Converse and Vans. It also has plants in China and Vietnam.
Company officials have been inspecting seven to eight places near Chennai and the site for setting up the plant is yet to be finalised, the minister added.
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