LG to invest $1.3 bn in Mexican plant

MEXICO CITY: South Korea's LG Electronics and partners plan to invest $1.3 billion to expand a television production plant in northern Mexico, a company executive said on Friday.

LG plans to expand its existing plant in the northern city of Reynosa on the U.S. border, said Luis Saravia, a vice president at LG Electronics in Mexico.

"It's a very, very ambitious project over several years that will begin this year," he told Reuters.

LG's plant in Reynosa, one of four it owns in Mexico, exports about 70 percent of the televisions it produces to U.S. consumers and sells the rest in Mexico, Saravia said.

"The U.S. market is the biggest in the world for digital televisions," he said. "The investment will go toward that boom."