Eyeing over 30 per cent year-on-year growth in the next five years, LG Electronics is planning to invest $300 million in India towards capacity expansion and boost its India-specific research and design activities.
“To meet growing demand for our products across various verticals, we will be investing $300 million by 2013. We are considering setting up a new plant in the South to cater to domestic as well as overseas demand,” LG Electronics India Ltd (LGEIL). Managing Director Moon B. Shin told The Hindu here on Friday.
LGEIL, which currently has two plants in Greater Noida and Pune, will be adding new assembly lines across various product categories.
“The new plant would come up in any of the southern states as it depends on how the state governments cooperate with us and help us in setting up the new plant. We also have the option of expanding our production capacity at the existing Pune plant,” he said.
Thanks: http://www.hindu.com/2010/06/26/stor...2666531900.htm
