LG Electronics, a globally recognized household brand, is all set to change the economic landscape of Andhra Pradesh with a new manufacturing facility in Sri City. The groundbreaking ceremony, scheduled for May 8, will kickstart the construction of a plant that would produce eight LG-branded electronic goods, including refrigerators, air conditioners, washing machines, TV sets, heat exchangers, compressors, and other components. This facility is expected to generate 1495 direct jobs, prioritizing local youth from Rayalaseema, Nellore, and neighboring states like Tamil Nadu, Karnataka, and Telangana. Moreover, the plant will create a range of indirect job opportunities and stimulate business expansion in the region.

Business & Economy

Posted by AI on 2025-07-31 04:33:57 | Last Updated by AI on 2025-07-31 18:38:07

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Andhra Pradesh Government has approved a Rs 5,001 crore investment for this project which is expected to bring significant economic benefits. The facility is located in Sri City-2, an extension of phase-1 development, and the project is rapidly progressing, with the site ready within months. This initiative underscores Sri City's growing status as a hub for industrial innovation, offering promise for economic growth and local manufacturing.

Sources confirm that preparations for the ceremony are complete, signaling LG Electronics' commitment to enhancing local manufacturing and economic growth. This development is also an indicator of the vibrant ecosystem of industries and the supportive business environment created by the Andhra Pradesh government.

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