IPO-bound LG Electronics India begins work on new $600 million plant

LG Electronics India has begun construction on its third plant in the country, the company and India’s Andhra Pradesh state government, where the facility is located, said on Thursday. The IPO-bound electronics manufacturer will invest $600 million in the plant located in Sri City, close to the South Indian city of Chennai.

The plant will generate direct employment opportunities for 1,495 individuals and indirectly employ 10,000 people.

The company’s other plants are located in Greater Noida, Uttar Pradesh state, and in Pune, Maharashtra.

Reuters…