LG Electronics India is set to sign a memorandum of understanding with the Maharashtra government to set up a Rs 550- crore facility at its Ranjangaon plant in Pune, The companys managing director, K R Kim, and Maharashtra chief minister Vilasrao Deshmukh are scheduled to sign an agreement on Tuesday to this effect. Ranjangaon, one of the leading industrial zones of the state, also houses the countrys first GSM mobile handset manufacturing plant, which was set up by LG. The companys Ranjangaon plant, with an investment of Rs 150 core, became operational in March this year.
The new plant, in addition to LGs current manufacturing facility at Greater Noida on the outskirts of Delhi, will enable the company to expand its consumer reach and ensure better supply chain management that would translate into faster response time. The Greenfield facility will be a wholly owned subsidiary of LG Electronics India,