LG Electronics to Invest $500 Million in India, Seoul Daily Says
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LG Electronics Inc. plans to invest $500 million in India over the next five years for research and development and capital expenditure, the Seoul Economic Daily reported, citing Shin Mun Beom, head of LG’s Indian unit.
LG’s Indian unit expects 2010 sales of $3.4 billion and targets annual sales of $10 billion in 2015, according to the Korean-language newspaper. LG is considering adding a $300 million factory near Chennai in India, the report said.