 "The LG logo is seen on a building roof in Minsk, Belarus on September 12, 2016. (Photo: Reuters)"){kind=logo}
South Korean consumer durables maker LG Electronics on Monday said it has started manufacturing Dual Inverter Air Conditioner Compressors at its plant in Greater Nodia.
LG Electronics India, which is among the leading players in the residential air-conditioning market here, has invested around Rs 100 crore in the new facility in Uttar Pradesh.
The new line has a capacity to roll out one million units per year, the company said.
According to the company, it has 'become the first brand to manufacture its own Dual Inverter Air Conditioner compressor in India".
Hyunjin Lee, Manufacturing MD of LG Electronics India, said this continuous expansion is a step towards making self-reliant India a reality.
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LG Electronics aims to make India a powerful manufacturing hub. "We have invested approximately Rs 100 crore in setting up this Air Conditioner Compressor manufacturing line and are continuously working towards strengthening our local operations," he added.
In January, LG Electronics India started a new line for manufacturing the premium range of side-by-side refrigerators at Ranjangaon in Pune where it had invested around Rs 200 crore.
LG Electronics India is a wholly-owned subsidiary of South Korea-based LG Electronics. The company, which was established in January 1997 in India, has two manufacturing units at Greater Noida and Pune.
For the financial year that ended March 31, 2022, LG Electronics India's total revenue was at Rs 17,171.3 crore.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
