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Hans India
08-05-2025
- Business
- Hans India
Lokesh to lay stone for Rs 5,001 cr LG plant in Sri City today
Tirupati: South Korean electronics giant LG is set to establish its third manufacturing unit in India with an investment of Rs 5,001 crore. The new facility will come up in Sri City, marking the company's first unit in the southern region of the country. The groundbreaking ceremony is scheduled for Thursday, with Minister for Education and IT, Electronics and Communications Nara Lokesh to lay the foundation stone. The Andhra Pradesh government gave its nod for the mega investment in April. The project will be LG's third plant in India after its existing units in Pune and Noida. The Andhra Pradesh Industrial Infrastructure Corporation (APIIC) has allotted 188 acres of land near Kolladam village in the Phase 2 expansion area of Sri City for the initial phase. An additional 70 acres will be provided in the second phase. The state government has also extended a customised incentive package to support the project. This includes complete water subsidy for 20 years, and exemptions from stamp duty and registration charges. Once operational, the plant is expected to generate direct employment for around 1,500 people, while nearly 5,000 others are likely to benefit from indirect employment opportunities across Tirupati, Nellore, and neighbouring districts. In view of the Thursday's event, District Collector Dr S Venkateswar, along with Superintendent of Police V Harshavardhan Raju, Sri City MD Ravindra Sannareddy, Joint Collector Shubham Bansal, Additional SP Ravi Manoharachari, Sullurupeta RDO Kiranmayi, and representatives from LG conducted an inspection of the arrangements at the project site on Wednesday. They reviewed the preparations for Minister Lokesh's visit. District Collector S Venkateswar, SP V Harshavardhan Raju, Sri City MD Ravindra Sannareddy and others discussing groundbreaking ceremony arrangements at Sri City on Wednesday
Hans India
06-05-2025
- Business
- Hans India
Lokesh to lay stone for LG electronics plant at Sri City on May 8
Tirupati: Minister for Education and IT, Electronics & Communications Nara Lokesh will lay the foundation stone for LG Electronics' new manufacturing facility at Sri City on May 8. The plant, with an investment of Rs 5,001 crore, marks the South Korean giant's first unit in South India and its third in the country after Pune and Noida. District Collector Dr S Venkateswar confirmed the minister's two-day visit to Tirupati district on May 7 and 8. Lokesh will arrive from Mumbai at Renigunta Airport at 3.30 pm on May 7 and proceed by road to Satyavedu, reaching VMK Kalyana Mandapam by 5.10 pm. He will participate in various local programmes there until 8 pm. On May 8, the minister will leave Satyavedu at 10.30 am and reach Sri City by 10.50 am to attend the foundation-laying ceremony from 11 am to 1 pm. He is scheduled to depart for Hyderabad from Tirupati airport at 2.40 pm the same day. Meanwhile, the upcoming facility will manufacture a wide range of consumer electronics including refrigerators, air conditioners, washing machines, televisions, and compressors. The Andhra Pradesh Industrial Infrastructure Corporation (APIIC) has already allocated 188 acres for the project. Once operational, the plant is expected to provide direct employment to about 1,500 people and generate indirect opportunities for nearly 5,000 more across Tirupati, Nellore, and surrounding districts. Commercial production is expected to commence within two to three years.
