The KIA Motors India will invest $54 million (₹409.5 crore) in its expansion project at the manufacturing facility at Erramanchi village in Anantapur district, announced company Chief Executive Officer Kookhyun Shim at the ‘Mana Palana Mee Suchana' Day Four programme on Thursday.
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At the interactive session on the industrial sector and investments with the industrialists and beneficiaries, Mr. Shim said KIA Motors India’s success story will attract more number of foreign investors into Andhra Pradesh and explained that the company could achieve success in the automobiles market within 10 months of beginning manufacturing cars.
Giving credit to the State government’s industrial policy and the cooperative nature of officials, he said the State could become an industrial hub with foreign investments coming in due improved investor confidence. The State had good natural resources, a large pool of Human Resource and skilled manpower with good connectivity through air, road and sea.
“We along with our vendors have generated 13,000 jobs and majority of them are from Andhra Pradesh. The company trained several local youth on the technical skills the automobile industry needs and of them KIA Motors India employed 1,589 and several others by the vendors supplying original parts and spares,” Mr. Shim said in his brief speech.
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The South Korean company at its India facility currently manufactures ‘Seltos’ - compact SUV and ‘Carnival’ - an MPV, models.