Sixteen Korean suppliers to set up production units in India’s Andhra Pradesh state
These suppliers will cumulatively invest USD737 million in new auto parts facilities to support Kia’s upcoming plant in the state
Around 16 South Korean companies signed Memorandum of Understanding (MOU) with the government of Andhra Pradesh in India on Monday (19 March) to establish production facilities to support Kia Motors upcoming vehicle manufacturing plant in the state, reports Press Trust of India (PTI). These companies, in combine, will invest USD737 million in new auto parts manufacturing facilities. The planned investment is expected to create 6,583 jobs, according to an official release by the Andhra Pradesh government.