Make in India to get a boost as Kia Motors plans to invest 10,000 crores

India Infoline News Service | Mumbai | April 17, 2017 10:46 IST

Soth Korea’s second largest car manufacturer following Hyundai Motor Company, Kia Motors may infuse as much as Rs. 10,000 crore as the biggest foreign direct investment in India, with its parent company, Hyundai Motors choosing Andhra Pradesh as its investment destination.

Soth Korea’s second largest car manufacturer following Hyundai Motor Company, Kia Motors may infuse as much as Rs. 10,000 crore as the biggest foreign direct investment in India, with its parent company, Hyundai Motors choosing Andhra Pradesh as its investment destination.
 
“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. 

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

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