e-auction of plots at upcoming hi-tech cycle valley soon in Ludhiana

e-auction of plots at upcoming hi-tech cycle valley soon in Ludhiana

Vini Mahajan, Chief Secretary - File photo

Nitin Jain

Tribune News Service

Ludhiana, June 9

With the hi-tech cycle valley at Dhanansu village in Ludhiana nearing completion, the interested investors will soon be able to book their plots in the upcoming industrial area.

The e-auction of plots and units at the state-of-the-art hi-tech valley industrial park that will provide plug and play infrastructure to mobility and advanced manufacturing industrial units, coming over 383 acres of land at a cost of Rs 500 crore, will be launched shortly.

Vini Mahajan, Chief Secretary

Officialspeak

Ludhiana being a commercial hub of north India and densely industrialised district of the state was always a preferred destination for both global and local investors. The valley will provide impetus to the flourishing business-friendly ecosystem across all sectors.

A decision to this effect was taken at a high-level meeting, chaired by the Chief Secretary, recently.

The Principal Secretary, Industries and Commerce, Alok Shekhar, intimated at the meeting that the internal works of the project of key concern for all components would be completed by the end of this year.

He disclosed that e-tendering for plots and units would be floated soon and a few large industries had shown interest to bid for the large plots.

He informed that a deficit of Rs 7 crore had emerged in the budget provided by the government for the road project.

The meeting decided to make a proposal to the Finance Department to allot the balance amount.

Recently, a leading bicycle manufacturer, Hero Cycles, had set up an anchor unit spread over 100 acres of land in the cycle valley for the manufacturing of mobility solutions like bicycles and e-bikes.

A provision of Rs 22 crore has been made in the Punjab Budget 2021-22 for creation of capital assets in the valley.

The state government was developing the cycle valley with an aim to attract new investors not only from within the country but also from overseas.

The approved industrial park would not only attract global investments but also facilitate Punjab-based industries to expand their capacities thereby generating new employment opportunities in the state.

While a concrete four-lane road to connect the valley directly with the Ludhiana-Chandigarh NH-5 has already been completed at the cost of Rs 33.53 crore, the storm water drainage, effluent collection system and water supply distribution system will be accomplished by July. For effective water management, uninterrupted supply and its distribution, the valley will be equipped with the canal water supply and necessary fully functional arrangements such as underground service reservoir and pumping machinery, including water treatment plant, by December.

To support operations of the units within the valley, common utilities such as streetlights, internal electricity distribution system and other allied works will be completed by January next. The park shall also have green spaces and scenic landscape in line with the global best practices.

To ensure environment safety, encourage zero liquid discharge and to reduce operational cost burden, the PSIEC is providing critical shared facilities such as sewage treatment plant (STP) and common effluent treatment plant (CETP) for the industrial units inside the park as per the development plan of the hi-tech valley.

Vini Mahajan, Chief Secretary, said “Ludhiana being a commercial hub of north India and densely industrialised district of the state was always a preferred destination for both global and local investors. The establishment of the industrial park is evident testament of receptiveness of the Punjab Government to the industry feedback and timely implementation of required policies and decisions on ground. The valley will provide impetus to the flourishing business-friendly ecosystem across all sectors. As proven in the leading economies of the world, focusing on the development of industrial infrastructure by the government has always been instrumental in harnessing the investment and sustainable development of the economy.”

Investment destination

To attract the global and local investors in the valley, the Punjab Bureau of Investment Promotion has been aggressively reaching out to the investors to attract investment in the valley by highlighting the vast investment opportunities in the state.

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