Continuing his spree to encourage investment in the state, the Punjab Chief Minister Bhagwant Singh Mann on Thursday assured fulsome support and cooperation to Modren automotives for their future plans to expand their project in state and manufacture pivotal part of automotive giant BMW from state. A delegation of the Modren automotives Ltd. comprising Aditya Goyal, Suhail Goyal and Manish Bagga called on the Chief Minister today.
During the meeting, he was informed that Modren automotive have become the first Indian company to receive approval for deliveries of Differential. Pinion Shafts to German luxury vehicles manufacturer BMW AG Munich. They said that order has been confirmed for 2.5 million units valued at INR Rs 150 crores adding that models with investment worth hundreds of crore for development and testing adding that they will be executed on the same premises by adding additional lines bringing in more revenue, employment and investment.
Assuring fulsome support and cooperation to the company for their future endeavours, the Chief Minister accepted the invitation of delegation to lay foundation stone of the plant next month. He said that it is matter of immense pride and satisfaction that the parts of leading automotive giant BMW will be now produced in state.
Bhagwant Singh Mann said that this move will give impetus to industrial growth of the state besides highlighting Punjab on the international map. The Chief Minister reiterated that the state has an industrial friendly government with a real single window system for the well-being of investors. He said that Punjab is a land of opportunities and the leading companies from across the world are making a beeline to invest in the state.
Bhagwant Singh Mann said that Punjab has complete communal harmony, industrial peace coupled with congenial atmosphere for industrial growth, which are giving impetus to its overall development, prosperity and progress.