VIJAYAWADA: KIA Motors on Thursday announced an additional investment of 54 million US dollars in Andhra Pradesh. The company already has a plant manufacturing SUVs in Anantapur district in the state.
Kookhyun Shim, the Managing Director and CEO of KIA Motors India Private Limited, made the announcement during the Andhra Pradesh government’s brainstorming session under the banner ‘Mana Palana Mee Suchana’ on industries and investments in the state in the past one year.
“We are happy to share that we are going to make an additional investment of 54 million US dollars for the upcoming project despite the COVID-19 pandemic. As we prosper, we will invest more and create more business opportunities in AP,” he said.
Shim went on to add, “From a foreign investor’s point of view, AP has strong advantages to develop as an industrial hub including human resources and accountable government officials.” Availability of airports and sea ports add to the advantage, he said.
Shim appreciated the efforts of the government to prevent the spread of COVID-19 and at the same time lessen the pandemic’s impact on the economy.
