Kolkata, June 20: LG Electronics India will set up its second plant in Pune at an investment of Rs 500 crore. An LG official said here the second manufacturing unit would have an installed capacity of one million units in addition to the 1.5 million units at its Greater Noida facility. The second plant will start operation in October, 2004.

The Pune plant will manufacture CTVs, air conditioners, washing machines, microwave ovens, monitors and refrigerators.
The official said the company had targeted a turnover of Rs 16000 crore by 2010. The turnover of the company stood at Rs 3315 crore in the last calendar year. The target for the current year is Rs 4500 crore, the official said.

On investment plans, the official said that LG would make a capital expenditure of Rs 1000 crore for the period 2003-2010.
The South Korean electronics major has also decided to set up its second overseas R&D centre in India where 500 engineers will be working. Bureau Report