LG Electronics to invest Rs 1,000 cr in India

LG Electronics India is planning to invest Rs 1,000 crore in India in the next two years, a top company official said on Tuesday.

“We are planning to invest Rs 1,000 crore in the next two years in the country. This includes setting up of a new plant or expanding the capacity of existing plants to meet the growing demands. Plans are there for a new plant, but the location is not finalised,” said Soon H Kwon, managing director, LG Electronics India.

The firm currently has two facilities in the country — one in Greater Noida and the other in Pune. The new plant would be mainly for developing 3D appliances. Hence, the new plant is expected to be finalised by the second half of next year. However, he said that the company expects a 25 per cent growth in the Indian market this financial year.

In terms of brand shops, the company wants to expand it to 1,600 this year, from the current level of 1,300.