LG Powers Up South India with ₹5,001 Crore Investment

LG Electronics has announced a ₹5,001 crore investment to set up a manufacturing plant in Sri City, a Special Economic Zone (SEZ) in the Tirupati district of Andhra Pradesh. This will be the company’s third manufacturing unit in India and its first in South India.

The upcoming facility will produce a wide range of consumer electronics, including refrigerators, washing machines, air conditioners, televisions, and compressors. Commercial production is expected to commence in two to three years, according to Sri City MD Ravindra Sannareddy.

To attract LG, the Andhra Pradesh government is offering several incentives, including a full subsidy on water supply for 20 years and waivers on stamp duty and registration charges. The project is expected to drive industrial growth and job creation in the underdeveloped Rayalaseema region and nearby Nellore district.

Sri City is a multi-product integrated business hub built on a ‘Work-Live-Learn-Play’ model, with strategic connectivity to four seaports and two international airports. It currently hosts over 235 multinational companies from 31 countries, with total investments nearing USD 4.5 billion. Notable occupants include Colgate-Palmolive and PepsiCo, which operates its largest Indian manufacturing facility there.

News by Rahul Yelligetti.