Chief Minister N Chandrababu Naidu on Thursday announced that Andhra Pradesh will be soon developed as an automobile hub.
The Andhra Pradesh Chief Minister, along with Kia Motors Corporation President Han Woo Park, took part in the Frame Installation of Kia Motors at Erramanchi village in Anantapuram district of the state.
Speaking at the event, the Chief Minister expressed his gratitude to the farmers who gave their lands for the industry and opined that with the Kia Motors manufacturing plant, the face and fate of Anantapuram district would change.
Kia Motors is a South Korean automobile giant that has set up its fifth manufacturing unit and the first in India.
With an investment of Rs 13,000 crore, Kia is planning to manufacture three lakh vehicles per annum. This unit is expected to generate employment opportunities for 11,000 persons, including 4,000 direct jobs.
Kia is planning to roll out their first car manufactured in Anantapuram, within one year. As many as 40 automobile allied industries will also be set up there.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app