LG Plant Marks Pursuit Of Adhunik Pradesh: Lokesh
Lays foundation stone for $600-mn LG’s new unit at Sri City; Initial production likely in 2026
AP IT, Electronics and Education Minister Nara Lokesh being presented a memento at the ground-breaking ceremony of LG Electronics’ new facility at Sri City near Tirupati on Thursday
Satyavedu (Tirupati dist): Nara Lokesh, Minister for IT, Electronics and Education, on Thursday laid a foundation stone LG Electronics’ state-of-the-art manufacturing facility here declaring that every job created and every innovation launched is paving the way to transform Andhra Pradesh into a global electronics powerhouse. He was speaking at the foundation stone laying ceremony of LG Electronics’ facility in Sri City, near Tirupati.
The State Government has provided 247 acres at Sri City to LGEIL for the new plant that is expected to generate around 1,900 direct and indirect jobs. This new plant is expected to cover a site area of one million square meters, with a total floor area of 220,000 square meters. LGEIL’s investment in this facility will be to the tune of $600 million over a period of four years.
It brings with it the potential to bring ancillaries to the region, thereby creating an ecosystem for white goods manufacturing in Andhra Pradesh, he said. Once fully operational, the facility will have an annual production capacity of 8 lakh refrigerators, 8.50 lakh washing machines, 1.5 million air conditioners, and two million air conditioner compressors.
