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Seoul : LG Electronics Inc plans to invest $500 million in India over the next five years for research and development and capital expenditure, according to a report, 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.
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