Chandrababu Naidu, the chief minister of Andhra Pradesh, has expressed his happiness at LG Electronics’ choice to open a new production facility in the state.

With an investment of more than ₹5,800 crore in Sri City, Naidu recently tweeted that the business has inked a deal to turn Andhra Pradesh into a worldwide manufacturing powerhouse. More than 2,500 direct and indirect jobs are anticipated to be created in the area as a result of the project.

Eli Electronics would get 100% incentives under the State Investment Promotion Committee (SIPC) for this endeavor, the Chief Minister said. According to Naidu, this milestone marks the start of an exciting new era for Andhra Pradesh’s industrial development. He posted a picture from today’s foundation stone ceremony at Sri City, which was presided over by LG Electronics Minister Nara Lokesh.