LG to invest Rs 500 cr in Pune unit

LG Electronics India Pvt Ltd (LGEIL), the Indian arm of South Korean Chaebol LG Electronics Inc, plans to invest an additional Rs 500 crore and recruit 3,000 personnel by 2010 for increasing production facilities at its Ranjangaon facility near pune.

"We are planning to infuse around Rs 1,125 crore in India in the next five years. Of this amount, Rs 500 crore will be used to expand the facility at Ranjangaon," LGEIL managing director Kwang-Ro Kim said.

The investment would be for upgradation of the plant and the equipment there.

The unit currently produces around five lakh colour television sets, one lakh air conditioners, two lakh washing machines, two lakh microwave ovens 10 lakh mobile and one lakh computer monitors, he further revealed.