KIA Motors to invest another $54 million in Andhra Pradesh for upcoming project

South Korean automaker KIA Motors on Thursday announced an additional investment of USD 54 million in Andhra Pradesh for an upcoming project. KIA India CEO Kookhyun Shim declared to invest an additional sum of USD 54 million on the company's expansions in the state while speaking at the Andhra Pradesh government's flagship programme 'Mana Paalana, Mee Soochana' on industries. The investment will be focussed on manufacturing SUV vehicles in the State.

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Company is presently catering to citizens of Andhra Pradesh: Shim

Shim said that "KIA is all set to become a model for foreign investors and investments coming to Andhra Pradesh." He further reiterated that 85 per cent of the employment opportunities created by the South Korean company is presently catering to citizens of Andhra Pradesh, thereby furthering the Chief Minister's vision of generating employment via investments.

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'Mana Palana Mee Soochana' great success: CMO

The brainstorming session 'Mana Palana Mee Soochana' (Our Governance, Your Suggestion) on industries turned out to be a great success with KIA Motors, announcing a further investment of USD 54 million said the Chief Minister's Office (CMO). 

Earlier, Chief Minister YS Jagan Mohan Reddy slammed the previous TDP government and alleged that it had spread false propaganda that KIA was moving out of the state. "The previous government armed with a section of its friendly media has mastered the art of spreading lies and canards and manoeuvering the facts. When the outreach programme was going on, there was a propaganda that KIA Motors is moving out of Andhra Pradesh. I was shocked as to why should they go away. What did we do to whisk them away," the release read.

Managing Director of the company Kim denied the rumours spread by the media and stood firm that the company is not moving away but are working together with the Andhra Pradesh government, the release added.

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When the MSMEs sector was were in a bad shape during 2014-19, the Jagan Reddy government has allocated Rs 968 crore to revitalise them. In the first installment, Rs 450 crore was released and the rest will be given soon, the release said.

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