Sri City: LG Electronics Inc. announced plans to establish a new home appliance factory in India, marking a significant investment in the rapidly expanding South Asian market.
According to Yonhap News Agency, the groundbreaking ceremony for the plant in Sri City, an industrial hub in Andhra Pradesh, will see participation from local dignitaries, including Andhra Pradesh's Minister for Human Resources Development, Nara Lokesh, alongside LG Electronics executives such as Lyu Jae-cheol, the President and head of the company's home appliance division. The facility, representing an investment of $600 million, is expected to commence production by the end of 2026, with an impressive annual manufacturing capacity of 800,000 refrigerators, 850,000 washing machines, 1.5 million air conditioners, and 2 million air conditioner compressors.
This new facility will be LG Electronics' third production site in India, supplementing existing plants in Noida, Uttar Pradesh, and Pune, Maharashtra. The Sri City plant is anticipated to function as a regional manufacturing center, catering to both the Indian market and neighboring regions, including the Middle East and Bangladesh.
LG Electronics emphasized that the establishment of the new plant will bolster its local supply chain capabilities, reinforcing its leadership in India's burgeoning consumer durables sector.
Lyu Jae-cheol remarked, "The construction of the Sri City plant is a milestone that signifies LG Electronics' commitment to becoming a true national brand in India. With innovative products produced through a stronger local supply chain, we will further solidify our position as India's top home appliance brand."