LG Electronics India Commences Work on New $600 Million Manufacturing Facility Ahead of IPO.

LG Electronics India, currently preparing for its initial public offering (IPO), has announced the commencement of construction on its third manufacturing facility in the country. The company and the state government of Andhra Pradesh, where the new plant will be located, jointly confirmed the development recently.

The electronics giant is set to invest a substantial sum of $600 million in the state-of-the-art plant, which will be situated in Sri City, a strategically important industrial hub in close proximity to the major South Indian city of Chennai. This significant investment underscores LG Electronics India's commitment to expanding its manufacturing capabilities within the country as it gears up for its public listing.

The new facility is projected to create significant employment opportunities in the region, with an estimated 1,495 direct jobs and a further 10,000 indirect employment opportunities expected to be generated. This development is anticipated to provide a considerable boost to the local economy and further solidify Andhra Pradesh's position as a key manufacturing destination for major international companies.