Punjab’s industrial city, ludhiana, will soon have first-of-its-kind hi-tech cycle valley in its vicinity at Dhanansu village in 300 acres with an investment of around Rs300 crores. The cycle valley is expected to attract new industries not only from India but also abroad.
Besides, it would also provide alternative business activities to the existing units running in the residential areas of ludhiana city.
The final decision came with the Dhanansu village panchayat handing over 300 acres of land for the purpose to the Punjab Government. A delegation of panchayat, led by its Sarpanch Davinder Singh, received a cheque of Rs94.31 crore for the same on Tuesday.
Deputy Chief Minister Sukhbir Badal, presiding over a meeting after this handover ceremony, said that 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 hi-tech bicycle 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.
Sukhbir said that this project would help in decongestion and relocating industry at ludhiana giving a boost to 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 Rs300 crores, the project would attract an estimated investment of Rs1,000 to Rs1,500 crores besides providing employment opportunities to thousands of youth directly and indirectly, he added.
He said that this cycle valley would provide developed industrial plots to the prospective investors at affordable prices equipped with modern amenities along with integrated support services covering banking, health, institutional, recreational, education etc.