Andhra IT Minister lays foundation for Rs 5,000 crore LG manufacturing unit in Sri City

Satyavedu (Andhra Pradesh), May 8 (PTI) Andhra Pradesh IT Minister Nara Lokesh on Thursday laid the foundation for a Rs 5,000 crore LG manufacturing unit here in Sri City, which will manufacture eight lakh refrigerators, 8.5 lakh washing machines, 1.5 million air conditioners and others annually in the future.

The new LG manufacturing unit, which was allotted 247 acres of land at Sri City, a multi-product special economic zone (SEZ), is expected to generate 1,900 direct and indirect jobs.

"This project goes beyond industrial development; it marks a milestone in India's industrial and technological advancement. Where innovation and investment meet, the future is built," said Lokesh in a press release.

Expected to cover an area of one million sq metres, the LG unit will have a total floor area of 2.2 lakh sq metres and the investment of Rs 5,000 crore will take shape over a period of four years.

Production is expected to begin with air conditioners from 2026, followed by the phased rollout of washing machines, refrigerators and compressors lines through 2029.

It will attract ancillaries and create an ecosystem for white goods manufacturing in the state, said the press release.

By manufacturing key components like compressors and heat exchangers within the state, LG aims to strengthen its supply chain and reduce dependency on imports, it noted.

Besides the investment from LG, the South Korean tech giant's vendor partners are also expected to pump in an investment of Rs 839 crore to create another 700 additional jobs. PTI STH ADB