Ludhiana, April 13: Punjab Industries Minister Sunder Sham Arora on Tuesday inaugurated new plant of Hero Motors Company at Hi-Tech Cycle Valley in village Dhanansu, near here.
Earlier, the Minister also inaugurated the 8.5 km long and 100 feet wide approach road (connecting Chandigarh Road to cycle valley), that has been constructed by PSIEC with a cost of Rs 66 crore.
Mr Arora was also accompanied by Hero Motors Company CMD Pankaj Munjal, PSIEC Chairman Gurpreet Singh Bassi, PMIDB Chairman Amarjit Singh Tikka, Punjab Youth Development Board chairman Sukhwinder Singh Bindra, Senior Congress leader Satwinder Kaur Bitti, SDM Dr Baljinder Singh Dhillon, besides several others.
Speaking on the occasion, Pankaj Munjal informed that the Cycle Valley is a critical element in establishing HMC’s global engineering and manufacturing chain with R&D facilities centred in Europe and manufacturing in India
He said that Hero E Cycles Ltd Factory is a major component of Hero Motors Company’s (HMC) ambition to make India a global manufacturing hub of premium bicycles and E Cycles
He said that the factory will help HMC augment is production capacity to 10 million units annually, with a production of 4 million premium bicycles and E Cycles, majorly for global consumption. Along with the new plant, Hero E Cycle Valley will also house a series of international component suppliers to achieve complete localisation of manufacturing in India
Cabinet Minister Sunder Sham Arora said that this new hi-end export-oriented manufacturing plant at the ambitious Cycle Valley, will help in the generation of thousands of jobs and marks a major leap for the ‘Make in India’ initiative. He said that the opening of the new plant by HMC marks the first phase of operationalization of the Cycle Valley.(UNI)