KIA Motors India to invest ₹409 cr. in expansion project

‘Industry-friendly policy will attract foreign firms to State’

May 29, 2020 12:08 am | Updated 12:08 am IST - ANANTAPUR

The KIA Motors India will invest $54 million (₹409.5 crore) in expansion project at its manufacturing facility at Erramanchi village in Anantapur district, company Chief Executive Officer Kookhyun Shim announced at the ‘Mana Palana-Mee Suchana’ programme on Thursday.

At an interactive session on industrial sector and investments with the industrialists and beneficiaries, Mr. Shim said the KIA Motors India’s success story would attract more foreign investors to Andhra Pradesh, adding that the company had achieved success in the market within 10 months of beginning manufacturing cars.

Giving credit to the State government’s industrial policy and cooperation of the officials, he said. The State could become an industrial hub with foreign investments coming in owing to the investors’ confidence. The State has good natural resources, a large pool of skilled manpower and good air, road and sea connectivity, he said.

Job creation

“We, along with our vendors, have generated 13,000 jobs and a majority of the employees are from Andhra Pradesh. The company has trained the local youth in technical skills the automobile industry needs and KIA Motors India has employed 1,589 of them and several others by the vendors supplying spares,” Mr. Shim said.

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