$10 Million Investment in Footwear

TechShoes, a company of Brazilian origin, will establish itself under the tax free zone in Nicaragua.

Monday, September 19, 2011

A new investment comes to the shoe making industry in Nicaragua, where foreign companies are already engaged in the production and export of footwear.

Now is the turn of Techshoes, which will invest $10 million in the first stage and expects to create around 1200 jobs over the next eighteen months in the area near the road from Tipitapa to Masaya.

The investment conditions were defined at an Investors Fair held in August in which Techshoes participated, along with other foreign companies interested in investing in the country.

An article laprensa.com.ni states: "Until now the only other company to operate in this sector is, the also Brazilian owned, SCA Footwear Nicaragua, which currently employs about 3,500 people, and is looking to raise that figure to 4,000 in the remainder of the year. The company operates in Brazil, in the Saratoga industrial park. Footwear production from SCA Nicaragua amounts to about 2.5 million pairs per year. "

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