Paving way for further strengthening of Punjab’s industrial development programme, China’s Fushida Group has decided to collaborate with Hero Cycles in the latter’s Rs 210 crore cycle manufacturing project in Ludhiana’s hi-tech cycle valley.
Fushida chairman Jian Sheng Xin conveyed the same to Punjab Chief Minister Capt Amarinder Singh during a meeting on Wednesday in the presence of Hero Cycles Group chairman Pankaj Munjal and Advisor Jagdish Khattar. “The Hero Cycles’ project, which had a deadline of April 2022 to commence production, is slated to start manufacturing from October 2020, thanks to the facilitation of all state-level approvals and incentives by Invest Punjab,” Munjal told the Chief Minister.