Kothari Industrial Corporation Limited has submitted a regulatory disclosure to BSE Limited regarding proposed execution of two Memoranda of Understanding (MoUs) with Guidance, Government of Tamil Nadu on 13 August 2026.
Proposed MoU 1 - Design Education and Upskilling Project
The Company proposes to enter into an MoU with Guidance, Government of Tamil Nadu, on behalf of Kothari Industrial Road Design Private Limited, for the establishment of a University for Design Education and Upskilling of existing Technical Personnel in Hosur, Tamil Nadu. The project will be implemented in collaboration with Accademia IUAD Institute of Universal Art and Design.
Investment: Approximately ₹50 crore over a period of five years
Employment Generation: Approximately 150 direct and 100 indirect persons in the State of Tamil Nadu
Proposed MoU 2 - Non-Leather Footwear Manufacturing Project
Phoenix Kothari Footwear Limited, an associate company of Kothari Industrial Corporation Limited, proposes to enter into an MoU with Guidance, Government of Tamil Nadu, for setting up a non-leather footwear manufacturing factory in Ramanathapuram District, Tamil Nadu.
Investment: Approximately ₹200 crore over the next seven years
Employment Generation: Approximately 10,000 persons, comprising 8,500 direct and 1,500 indirect employment opportunities
Conditions and Approvals
The proposed MoUs are intended to facilitate the implementation of the respective projects and shall be subject to applicable laws, statutory approvals, and eligibility under the prevailing Government policies.