LG to invest Rs 5,001 crore on electronics plant at Sri City

Tirupati: South Korean electronics major LG Electronics is set to establish a Rs 5,001-crore manufacturing unit at Sri City, Tirupati district. Chief Minister N. Chandrababu Naidu is expected to lay the foundation stone on 8 May.

This will be LG’s third facility in India—after Pune and Noida—and its first in the southern region. The plant will produce a range of consumer electronics including refrigerators, ACs, washing machines, televisions, and compressors. The State government has approved the investment under its new Industrial Policy 4.0, offering incentives like 100% water subsidy for 20 years, and waivers on stamp duty and registration charges. APIIC has allocated 188 acres near Kolladam village, with an additional 70 acres to be provided later.

The facility is expected to generate 1,500 direct jobs and nearly 5,000 indirect employment opportunities across Tirupati, Nellore, and surrounding districts. Commercial operations are likely to begin within two to three years. Meanwhile, the government has also cleared a Rs 3,718-crore project by Philips Carbon Black Ltd at the Naidupet MPSEZ. The plant, which will produce New Rubber Black and related chemicals, has been allotted 116.62 acres and will offer 200 direct jobs.

These major projects reflect Andhra Pradesh’s growing appeal to global manufacturers, positioning Tirupati as a rising industrial hub in South India.