The project would cost Rs 365 crore. Punjab Industries and Commerce Minister Sunder Sham Arora on Sunday said that with a ‘Hi-Tech Cycle Valley’ coming up on 378.77 acres of land, Ludhiana will be on the world map as cycle industry titans are establishing their units there, which would in turn generate employment opportunities for the youth of the state.
The layout plan, Change of land use (CLU), environmental clearance under EIA notification, RERA have also been accorded approval for the land.
The project would cost Rs 365 crore. Arora said the state government is working diligently towards setting up such industrial projects in the state which would serve the twin purpose of being environmental-friendly and providing employment avenues to the youth.
The minister said that a 100 acre plot had been allotted to Hero Cycles Limited, Ludhiana, in December, 2018 for setting up of anchor unit, on which Hero Cycles Limited has already commenced production from April, 2021 after constructing requisite manufacturing infrastructure.
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