LG Electronics to Build $600 Million India Plant Amid IPO Pause
LG Electronics India Ltd. will build its third plant in India, signaling its growth plans in the fifth-largest economy despite deferring its $1 billion-plus public listing in the county.
LG Electronics is investing about $600 million over four years in the factory coming up in the southern state of Andhra Pradesh, the local unit of the South Korean chaebol said in a statement Thursday. The plant will start making air-conditioners next year, followed by washing machines, fridges and compressors through 2029, the Andhra Pradesh government said in a separate statement.
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