Tribune News Service
Ludhiana, November 9
Emerging as the new investment hub in the industrial capital of the state, the upcoming hi-tech cycle valley has evoked massive response from the investors, the government has confirmed.
- Total project area: 378.77 acres
- Cost: Rs500 crore
- Area for allotment: 9 plots measuring 233 acres
- Allotted: 5 plots of 178.38 acres
- Under allotment: 55 acres
- Projected employment: 10,000
- Target for completion: March 31, 2022
This was evident from the fact that over 178 acres of the total 233 acre land, earmarked for sale, has already been allotted while the process to allot the remaining just 55 acres is in progress, the officials said.
While Hero Cycles has already set up its anchor unit over 100 acres worth Rs 400 crore, which promises to offer 1,000 direct employment opportunities and begun production of 4 million bicycles per annum, especially premium and e-bikes, the other two major allottees — Aditya Birla Group and JK Papers — have begun work on their respective sites measuring 61.38 acres and 17 acres, respectively.
While the Aditya Birla Group will set up a paint manufacturing unit at an investment of Rs 1,000 crore to offer over 2,000 jobs, including direct employment of 600 persons, JK Papers Limited has chosen Ludhiana for its maiden entry into new business vertical of corrugated packaging manufacturing with proposed investment of Rs 150 crore.
Sharing details, Punjab Small Industries and Export Corporation (PSIEC) Managing Director Kumar Amit told The Tribune on Tuesday that with 85 per cent of its internal development works already complete, the state-of-the-art 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 fully developed by March 31 next.
“Upon completion, the project would create direct employment opportunities for almost 10,000 persons,” he said.
Kumar Amit disclosed that 30 acres of land has been allotted to Punjab State Power Corporation Limited (PSPCL) for setting up of 400-KVA power substation to provide uninterrupted power supply.
The setting up of a sewage treatment plant (STP) and common effluent treatment plant (CETP) will be synchronised as per the need-based site requirements.
Divulging the status of ongoing development works, PSIEC Chief Technical Consultant Joginder Singh Bhatia said two plots for a convention centre over 13.58 acres and common amenities across 14.18 acres have also been earmarked.
He revealed that all the mandatory approvals and clearances for the project, including change of land use (CLU), approval of layout plan, RERA registration and environment clearance, have already been obtained.
Bhatia said after the allotment of five plots measuring 278.38 acres to three major industry honchos, two plots of 15 acres each, one plot each measuring 4.4 acres and 3.25 acres, besides nine plots measuring between 1.5 and 1.8 acres have been left for sale.
The remaining industrial plots are being offered at Rs 6,000 per square yard with CETP facility. However, 10 per cent rebate is being offered for the land chunks over 10 acres.
Two approach roads and a high-level bridge on way to the cycle valley at the industrial estate located at Dhanansu village near Ludhiana have already been constructed.
These included a new 100-foot-wide four-lane 8.3-km-long external approach road to the industrial park from the Chandigarh-Ludhiana NH-5 costing Rs 66.02 crore and another alternate route via Budhewal sugar mills has been widened and strengthened.
A high-level bridge over the Buddha Nullah along the approach road to the project site has also been constructed to ensure hassle-free passage.
While a water reservoir coming in the way of the approach road has also been shifted, the NHAI has initiated the work to construct a 500-metre-long service road for providing access from the NH-5 and the same will be completed by December 31.
He said 378.77 acres of land has been procured for the project at Rs 120 crore.
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 is 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.
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