Korean giant LG on Friday announced $ 50 million fresh investment in the Indian operations to set up its second manufacturing facility, taking the total committed investment to $ 350 million by 2005. “LG Electronics, India, has been on a rapid growth path, meeting investment and sales targets much ahead of the stipulated time frame. As a result, total investment allocated to the Indian subsidiary will be exhausted two years before 2005, and the subsidiary would need fresh investments as per the scaled up top line,” Global Head of LG Digital Appliances Company S S Kim told reporters in New Delhi. The proposed manufacturing unit will be set up either in East or West India but the exact location was yet to be decided. LG also announced signing of an MOU with IIT, Delhi, to undertake joint research and development activity in consumer electronics and home appliances for which the company has invested Rs 45 lakh. The Korean giant also unveiled its digital network homes' range on Friday, wherein appliances like washing machines and microwave ovens can be run via the Internet. Bureau Report