Kia Motors of South Korea is close to finalizing the location of their manufacturing unit in India. They have already visited the site at Penukonda in Anantapur a couple of times and are positive on selecting the location to establish their firm in AP.
It is said that AP government is going to issue about 600 acres for the foreign investor to bring their manufacturing hub in Anantapur near the Bengaluru highway and is planned to be functional by 2018 if everything goes right. Kia has outlined an investment about $ 1.6 billion in India which is certainly a big number.
The project is going to be commenced in two phases. The first phase involves the investment of Rs. 6000 crore which is going to result in the production of 3 Lakhs cars annually. The deal is one of the biggest foreign investment in India. and has been in talks for about a year and finally AP is likely to lock the deal. Follow Mirchi9 on Google NewsThis Week Releases on OTT – Check ‘Rating’ Filter
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