SEOUL: LG Electronics has announced plans to build a new home appliance factory in India, marking a significant investment in the fast-growing South Asian market. The company will break ground on the facility in Sri City, Andhra Pradesh, with local officials and company executives in attendance.
Scheduled to commence production by the end of 2026, the new plant will be built at a cost of US$600 million. Once completed, it will have the capacity to produce 800,000 refrigerators, 850,000 washing machines, 1.5 million air conditioners, and 2 million air conditioner compressors annually.
This will be LG Electronics’ third manufacturing facility in India, following its existing plants in Noida, Uttar Pradesh, and Pune, Maharashtra. The new plant in Sri City is poised to become a regional manufacturing hub, serving India and neighbouring markets such as the Middle East and Bangladesh.
The expansion is part of LG’s strategy to strengthen its local supply chain and bolster its leadership in India’s growing consumer durables market. Lyu Jae-cheol, President of LG Electronics’ Home Appliance Division, emphasised the significance of the project, stating, “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.”
The new facility reflects LG Electronics’ ongoing commitment to India, as it continues to invest in local manufacturing to meet rising consumer demand and strengthen its market presence.
–Yonhap
