AP signs MoU with Kia Motors for setting up car manufacturing unit in Anantapur
Hyderabad, April.27 : The Andhra Pradesh State government has signed a Memorandum of Understanding with Kia Motors Corporation for setting up a car manufacturing facility in Anantapur District. The MoU was signed by Solomon Arokiaraj, Industries Secretary of Andhra Pradesh and Han-Woo Park, President of Kia Motors, in the presence of the Chief Minister N. Chandrababu Naidu.
The Kia Motors, along with his associates and vendors will set up a green-field car manufacturing facility in Erramanchi in Anantapur District with total investment of USD 2.0 billion. The company will produce strategic compact sedans and compact SUVs, which will be designed to suit the Indian market conditions. The unit will incorporate facilities for stamping, welding, painting and assembly. Besides an advanced training center, Kia Motors will also establish a township for their employees. The project is expected to generate employment for over 11,000 people, both permanent and temporary. The project is likely to commence work in the last quarter of 2017 and is expected to roll out the first batch of cars in the second half of 2019, to eventually produce up to 300,000 units each year.
Speaking on the occasion, Chief Minister Chandrababu Naidu said it was a proud moment for him as well as to the people of Andhra Pradesh to welcome a global automobile giant to the State. He said he was very happy that Kia Motors has finalized its investment plans to enter India, and has selected Andhra Pradesh to set up their new plant. Today’s MoU will go a long way in its development history and will also strengthen his commitment towards “Make in India” program.
The project will have a spin-off effect on industrial development and employment in backward areas within Andhra Pradesh, the Chief Minster said, adding that he would personally monitor the progress of the project every 4th Monday and appointed the District Collector of Anantapur as the nodal officer for this project.
Han-Woo Park, President of Kia Motors said Kia is setting up its newest manufacturing facility in Andhra Pradesh. He spoke about Kia Motors profile wherein he mentioned that Kia is Korea’s second largest vehicle manufacturer and that it has a production capacity of 3.5 million units and annual revenue of the company is USD 45 billion. The company has 14 manufacturing and assembly operations in 5 countries. He assured the Chief Minister that they would contribute to the economic development of Andhra Pradesh and in turn sought continuous support from the government.
The Kia Motors, along with his associates and vendors will set up a green-field car manufacturing facility in Erramanchi in Anantapur District with total investment of USD 2.0 billion. The company will produce strategic compact sedans and compact SUVs, which will be designed to suit the Indian market conditions. The unit will incorporate facilities for stamping, welding, painting and assembly. Besides an advanced training center, Kia Motors will also establish a township for their employees. The project is expected to generate employment for over 11,000 people, both permanent and temporary. The project is likely to commence work in the last quarter of 2017 and is expected to roll out the first batch of cars in the second half of 2019, to eventually produce up to 300,000 units each year.
Speaking on the occasion, Chief Minister Chandrababu Naidu said it was a proud moment for him as well as to the people of Andhra Pradesh to welcome a global automobile giant to the State. He said he was very happy that Kia Motors has finalized its investment plans to enter India, and has selected Andhra Pradesh to set up their new plant. Today’s MoU will go a long way in its development history and will also strengthen his commitment towards “Make in India” program.
The project will have a spin-off effect on industrial development and employment in backward areas within Andhra Pradesh, the Chief Minster said, adding that he would personally monitor the progress of the project every 4th Monday and appointed the District Collector of Anantapur as the nodal officer for this project.
Han-Woo Park, President of Kia Motors said Kia is setting up its newest manufacturing facility in Andhra Pradesh. He spoke about Kia Motors profile wherein he mentioned that Kia is Korea’s second largest vehicle manufacturer and that it has a production capacity of 3.5 million units and annual revenue of the company is USD 45 billion. The company has 14 manufacturing and assembly operations in 5 countries. He assured the Chief Minister that they would contribute to the economic development of Andhra Pradesh and in turn sought continuous support from the government.