Hero Cycles CMD calls on Punjab CM, wants to set up 'cycle valley'

  • | Sunday | 23rd April, 2017

400 crore cycle valley, on the lines of IT Silicon Valley, near Sahnewal in Punjab. LUDHIANA: Chairman cum Managing Director (CMD) of Hero Cycles Pankaj Munjal on Saturday met Punjab chief minister Captain Amarinder Singh at Delhi and showed interest in setting up a 'cycle valley' on 100 acres, near Sahnewal. He also directed CEO, Punjab Bureau of Investment Promotion (PBIP) Anirudh Tiwari, to take the discussions forward with Hero. The new industrial policy that his government was working on would give an impetus to industrial development by streamlining the systems and processes for investing in the state, he added.The chief minister assurd Munjal of all possible support to set up business in Punjab, said the spokesperson. It may be mentioned that in November last year, then deputy chief minister Sukhbir Singh Badal had laid the foundation stone of a cycle valley and focal point at 300 acres in Dhanansu near Ludhiana in which Hero was the majority stakeholder as well.A press statement released by the chief minister's office said, "Amid the revival in industry sentiment in the state, Hero Cycles has shown interest in setting up a Rs.

LUDHIANA: Chairman cum Managing Director (CMD) of Hero Cycles Pankaj Munjal on Saturday met Punjab chief minister Captain Amarinder Singh at Delhi and showed interest in setting up a 'cycle valley' on 100 acres, near Sahnewal. It may be mentioned that in November last year, then deputy chief minister Sukhbir Singh Badal had laid the foundation stone of a cycle valley and focal point at 300 acres in Dhanansu near Ludhiana in which Hero was the majority stakeholder as well.A press statement released by the chief minister's office said, "Amid the revival in industry sentiment in the state, Hero Cycles has shown interest in setting up a Rs. 400 crore cycle valley, on the lines of IT Silicon Valley, near Sahnewal in Punjab. This was conveyed by Hero Cycles' Pankaj Munjal at a meeting with Punjab Chief Minister Captain Amarinder Singh here on Saturday"During the meeting, the chief minister asked Munjal to share a detailed report on the proposed project, which would include technical and R&D centres, among other critical industry facilities, according to an official spokesperson in the chief minister's Office.Munjal informed the chief minister the project would require about 100 acres of land and would lead to a doubling of the current 4.5 lakh people involved directly or indirectly in the cycle industry.Captain Amarinder said he was happy to welcome industry into the state for the generation of employment, as well as overall development and economic revival. The new industrial policy that his government was working on would give an impetus to industrial development by streamlining the systems and processes for investing in the state, he added.The chief minister assurd Munjal of all possible support to set up business in Punjab, said the spokesperson. He also directed CEO, Punjab Bureau of Investment Promotion (PBIP) Anirudh Tiwari, to take the discussions forward with Hero.

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