Hero to invest Rs 400 cr in Ludhiana

Tribune News Service

Chandigarh, January 18 

The Punjab government today signed an agreement with Hero Cycles Ltd for allotting 100 acres of land to set up an industrial park in the upcoming Hi-tech cycle valley project at Ludhiana.

An MoU to this effect was signed by Punjab State Industrial Export Corporation MD Rahul Bhandari on behalf of the state government and Hero Cycles’ chairman Pankaj Munjal in the presence of Chief Minister Amarinder Singh, and Industry Minister Sunder Sham Arora. 

The Chief Minister said the project shall attract around Rs 400 crore of investment by Hero Cycles and its suppliers or ancillaries, and generate close to 1,000 direct employment opportunities.