Visakhapatnam, Nov. 12 -- Kia India Managing Director and CEO Gwanggu Lee on Thursday announced an investment of approximately USD 2 billion (around Rs 17,000 crore) to establish an additional manufacturing plant in Andhra Pradesh, a move expected to generate around 12,000 jobs and increase the company's annual production capacity from 4.3 lakh to 6.3 lakh vehicles.

Speaking at the inaugural session of the 31st CII Partnership Summit in Visakhapatnam, Lee said the proposed plant would expand Kia India's manufacturing operations in the state and strengthen its long-term commitment to the Indian market.

He said, "Today, I'm so delighted to announce the expansion of key operations in Andhra Pradesh through the establishment of an additiona...