“A unit of South Korea’s biggest carmaker has chosen Penukonda in Anantapur district in southern Andhra Pradesh, which is starting the process of buying land for the factory", reported a leading business daily.
The automobile giant will invest in two phases in Andhra Pradesh with a cumulative investment of $1.6 billion, or Rs 10,300 crore, with the first phase of investment amounting to about Rs 6,000 crore.
Kia’s decision of investment on the plant comes as a part of India’s growing eminence as a manufacturing hub with centre’s Make-in-India initiative, making the country an investment destination.
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