(Reuters) -LG Electronics India has begun construction on its third plant in the country, the company and India’s Andhra Pradesh state government, where the facility is located, said on Thursday.
The IPO-bound electronics manufacturer will invest $600 million in the plant located in Sri City, close to the South Indian city of Chennai.
The plant will generate direct employment opportunities for 1,495 individuals and indirectly employ 10,000 people.
The company’s other plants are located in Greater Noida, Uttar Pradesh state, and in Pune, Maharashtra.
Reuters reported last month that the company’s South Korean parent delayed the public float in India due to market volatility.
LG Electronics is now targeting launching the IPO of its Indian unit in the second or third quarter of fiscal year 2026, instead of May.
($1 = 85.0400 Indian rupees)
(Reporting by Nandan Mandayam in Bengaluru; Editing by Sonia Cheema)
