Setting aside the rumors of KIA Motors planning to shift its USD 1 billion production facility from Andhra Pradesh to Chennai or elsewhere, South Korean Government’s apex trading arm Korea-Trade Investment Promotion Agency (KOTRA) has clarified that the company enjoyed full support from the state government, and hence it has absolutely no plans to shift its factory to any other destination. “Andhra Pradesh has always been one of the most investor-friendly destinations in the country. We have been informed by Kia Motors India that Kia has been receiving relentless support from the state government and has absolutely no plans to shift its manufacturing set-up to any other destination,” said a statement issued by the KOTRA’s New Delhi office exclusively to Asian Community News (ACN) Network on Wednesday. With this, KOTRA has been able to restore positive sentiments among the global investors from Korea as well as other countries, who are planning to make big-time investments in India.
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