If Tata Steel is able to bid for 100 acres, which they require for setting up a plant, the steel giant would set up the plant in Ludhiana. (File)Domestic steel giant Tata Steel has expressed interest in setting up a scrap-based steel manufacturing unit in Punjab. If all goes well and the company is able to get 100 acres in auction in Ludhiana, the state will be able to get an investment of Rs 1500 crore.
All eyes are now on action of land by (Punjab Small Industries and Export Corporation) PSIEC that would be held on June 10. If Tata Steel is able to bid for 100 acres, which they require for setting up a plant, the steel giant would set up the plant in Ludhiana.
Sources said that the company would use scrap as raw material imported from various countries. Mandi Gobindgarh in Punjab is the steel city of the state, already manufacturing steel from scrap imported from various countries.
“Its location would make it easier for the company to supply steel to the cycle industry. At the same time, the state will be able to get a steel giant. The steel unit will not only help in economy of the state but also provide employment of scores of people,” a government functionary said.
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