TIRUMALA: LG Electronics, a globally recognized household brand, is set to transform the economic landscape of Andhra Pradesh with a new manufacturing facility in Sri City.
The groundbreaking ceremony, scheduled for May 8, marks the start of a plant that will produce eight LG-branded electronic goods, including refrigerators, air conditioners, washing machines, TV sets, heat exchangers, compressors, and other components.
The Andhra Pradesh government has approved a Rs 5,001 crore investment for the project, which promises significant economic benefits.
The facility is expected to generate 1,495 direct jobs, prioritising local youth from Rayalaseema, Nellore, and neighbouring states like Tamil Nadu, Karnataka, and Telangana. Beyond direct employment, the plant will create a wide range of indirect job opportunities and stimulate business expansion in the region.
Chief Minister N Chandrababu Naidu took the initiative in bringing the South Korean global giant to Andhra Pradesh. Later, Tirupati district collector Venkateswar secured 247 acres of land for the project after the approval from the state state government in November last year.
The district administration’s swift action ensured the site was ready within months. Located in Sri City-2, an extension of the phase-1 development, the project is progressing rapidly, with land acquisition efforts advancing on a war footing to meet the committed timeline.
Sources confirm that preparations for the ceremony are complete, signaling LG Electronics’ commitment to enhancing local manufacturing and economic growth. This initiative underscores Sri City’s growing status as a hub for industrial innovation.