Thu May 08 15:57:09 UTC 2025: ## Andhra Pradesh Welcomes LG Electronics in Major FDI Boost
**TIRUPATI, Andhra Pradesh – May 8, 2025** – Andhra Pradesh is celebrating a significant boost to its economy with the groundbreaking ceremony for a new LG Electronics manufacturing plant. The $600 million facility, representing a major Foreign Direct Investment (FDI), will be built on a 220,000 square meter site and is expected to create 1,900 direct jobs within four years, with many more indirect jobs anticipated.
Andhra Pradesh’s Minister for Industries, Information Technology, and Human Resources Development, Nara Lokesh, hailed the investment as a testament to the state’s commitment to fostering industrial growth and innovation. He emphasized the state’s “open for business” policy and its aim to become a global electronics powerhouse.
The plant will produce a wide range of appliances, including refrigerators, washing machines, air conditioners, and compressors, with an annual production capacity reaching millions of units. The project also includes collaborations with several vendor partners, aiming to strengthen local supply chains and reduce reliance on imports.
The event was attended by high-profile guests, including the Ambassador of the Republic of Korea to India, Lee Seong-ho, and several top executives from LG Electronics. The investment underscores Andhra Pradesh’s ambition to attract global giants and leverage advanced technologies like AI-driven manufacturing and smart production processes.
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