Industrial city Ludhiana will soon have the first of its kind hi-tech cycle valley in its vicinity at village Dhanansu in 300 acres with an investment of around Rs. 300 crores which will attract new industries not only from India but also abroad. Besides this, it will provide alternative business activities to the existing units running in the residential areas of Ludhiana city.All this has came about with the panchayat of Dhanansu village handing over 300 acres of land for this purpose to the Punjab government. A delegation of panchayat led by Sarpanch Davinder Singh received a cheque of Rs. 94.31 crore for this gesture here today.Presiding over a meeting after this handover ceremony, Punjab Deputy Chief Minister Mr Sukhbir Singh Badal said this exclusive cycle valley, being setup by the Punjab State Industries Export Corporation (PSIEC), would script a new chapter in furtherance of business progress of Ludhiana and local industry as it is being setup on the vital Amritsar-Kolkata Industrial Corridor."The main idea behind this project is to create an eco-system for hitech bi-cycle manufacturers which will give impetus for upgradation in technology thereby enabling cycle industry of Ludhiana to remain relevant and competitive in the world-wide scenario", he added.
Deputy CM further informed that this project would help in decongestion and relocating industry at Ludhiana giving a boost to the setting up of anchor units in the sector specific field of cycle and its ancillaries. Apart from investment on laying infrastructure to develop cycle valley of around Rs. 300 crores, the project would attract an estimated investment of Rs. 1000-1500 crores and would provide employment opportunities to thousand of youth directly and indirectly, he added.He said this cycle valley would provide developed industrial plots to the prospective investors at affordable prices equipped with modern amenities alongwith integrated support services covering banking, health, institutional, recreational, education etc.It may be recalled that PSIEC has been developing industrial focal points to facilitate industrial development in Punjab having a network of 42 focal points across the state.
During the Progressive Punjab Investment Summit held in the year 2013 and 2015, the prospective entrepreneurs had strongly impressed upon the state government for providing additional availability of land to set up their ventures. Accordingly, the state government had directed PSIEC for the creation of land bank.Among others present in the meeting included industry minister Madan Mohan Mittal, rural development minister Sikandar Siingh Maluka, irrigation minister Sharnjit Singh Dhillon, principal secretary to deputy CM PS Aujla, principal secretary finance DP Reddy, principal secretary industries and CEO investment promotion Anirudh Tewari, MD PSIEC Amit Dhaka, special principal secretary to deputy CM Rahul Tewari, Manvesh Singh Sidhu and Ajay Mahajan and President Chambers of Industrial Undertakings Ludhiana Avtar Singh and general secretary Upkar Singh Ahuja.