City’s auto parts maker to set up Rs550-cr plant in dist

  • | Friday | 15th February, 2019

Ludhiana: City-headquartered Happy Forgings Limited (HFL) — a leading player in auto-components — on Thursday announced its decision to set up a large manufacturing facility in Punjab, with a proposed investment of Rs550 crore in Ludhiana. He also acknowledged the productivity of labour and peaceful labour relations in the state. HFL has a number of products in its portfolio, such as crank shafts, front axle beams, steering knuckles, spindles, differential case, connecting rods, tie rod assembly, piston pins, gear blanks, hubs, crown & pinions. He appreciated the steps taken by Invest Punjab — the one-stop office set by the state government — to facilitate the transformation of HFL’s plan into reality.Garg also thanked the chief minister for not only considering the crucial industry demand for power at Rs5 per unit, but also for bringing an attractive incentive policy for the industry. According to the company, this project is expected to further strengthen the eco-system and value chain in the state, and is likely to act as a nucleus to attract more such investments in the automobile and auto-component sector.Backed by state-of-the-art forging and machining facilities, HFL is engaged in manufacturing of forged and machined components for engines, transmissions, suspension, railways, oil & gas.

Ludhiana: City-headquartered Happy Forgings Limited (HFL) — a leading player in auto-components — on Thursday announced its decision to set up a large manufacturing facility in Punjab, with a proposed investment of Rs550 crore in Ludhiana. The company announced its decision at a meeting between HFL’s chairman Paritosh Kumar Garg with chief minister Captain Amarinder Singh on Thursday at Chandigarh.The company has already acquired about 20 acres of land, and has initiated the process of seeking statutory clearance from Invest Punjab for the project, which will generate direct employment of a minimum of 1,000 and indirect employment opportunities for at least 5,000 people in the state.During the meeting, Garg told the chief minister that the first phase of the facility will be up and running by the end of the next financial year. He appreciated the steps taken by Invest Punjab — the one-stop office set by the state government — to facilitate the transformation of HFL’s plan into reality.Garg also thanked the chief minister for not only considering the crucial industry demand for power at Rs5 per unit, but also for bringing an attractive incentive policy for the industry. He also acknowledged the productivity of labour and peaceful labour relations in the state. According to the company, this project is expected to further strengthen the eco-system and value chain in the state, and is likely to act as a nucleus to attract more such investments in the automobile and auto-component sector.Backed by state-of-the-art forging and machining facilities, HFL is engaged in manufacturing of forged and machined components for engines, transmissions, suspension, railways, oil & gas. HFL has a number of products in its portfolio, such as crank shafts, front axle beams, steering knuckles, spindles, differential case, connecting rods, tie rod assembly, piston pins, gear blanks, hubs, crown & pinions.

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