PNS|Vijayawada
In a major boost to job creation mission in the State, Education, IT and Electronics Minister Nara Lokesh will lay the foundation stone on May 8 for a large-scale manufacturing facility by global electronics major LG Electronics at Sri City, near Tirupati.
The project, with a planned investment of Rs 5,001 crore in multiple phases over six years, will manufacture refrigerators, washing machines, air conditioners and other appliances. LG also aims to locally produce key components such as compressors, motor compressors and heat exchangers, thereby strengthening the domestic supply chain and reducing import dependence. The initiative is expected to generate 2,000 direct jobs, while an additional Rs 839 crore investment in five ancillary units will further enhance employment and industrial activity in the region.
The project is the outcome of a meeting held in September 2024 between Lokesh and LG executives in Japan, where he presented Andhra Pradesh’s investor-friendly policies and the government’s commitment to developing Rayalaseema as an electronics manufacturing hub.
