Practice Areas - Project Finance and Infrastructure Law Firms and Lawyers
| Deal Date: | 02-09-2014 | Practice Area: | Project Finance and Infrastructure |
| Deal Title: | Kia Motors Corporation - Construction of Nuevo Leon Manufacturing Plant | Industry: | Automobiles & Parts |
| Description: |
Ashurst advised Kia Motors Corporation with respect to its investment with the Mexican State of Nuevo Leon to build an approximately USD1 billion car manufacturing plant, which will enable it to secure a local production base to meet global demand for new vehicles.
Kia expects to commence construction of the plant in September 2014 and to complete the construction in the first half of 2016. The new, state-of-the-art manufacturing plant will be situated on a 500 hectare site that will also be home to numerous suppliers that will also invest in the State of Nuevo Leon.
The plant will have an annual production capacity of approximately 300,000 cars, thus boosting Kia's total global manufacturing capacity to 3.37 million vehicles. This includes 1.69 million vehicles at the company's domestic Korean plants and 1.68 million at its overseas plants.
The Ashurst team was led by corporate partner John K.J. Kim, assisted by partner Peter Kwon, senior associates Sun Hee Kim and Sun Kim, and associate Esther Sun.
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| Financial Center: | Seoul | Value: | 500.01-1000.00 |
| Advised Party: | Equity Sponsor | Law Firm | Clifford Chance |
| Project Location | Mexico | Equity Sponsor | Republic of Korea |
| Classification: |
Project Finance Industrial |
Lawyer | Hyun Kim |
