“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.
- Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
- Now Save Rs.3150 on your Demat Account ...Click here
- Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
- Get the most detailed result analysis on the web - Real Fast!
- Actionable & Award-Winning Research on 500 Listed Indian Companies.