Tribune News Service
Ludhiana, August 2
Poised to emerge as the new investment hub in the industrial capital of Punjab, the upcoming hi-tech cycle valley is inching closer towards completion with 75 per cent of its internal development works already complete, the government has confirmed.
While two approach roads and a high-level bridge on way to 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, have already been constructed, all the basic infrastructure facilities will be provided at the hi-tech cycle valley by February next, a senior officer said.
With two major industry honchos — Aditya Birla Group and Hero Cycles — already arriving to set up their units here, the government has also fixed rates for plots put on sale by the PSIEC at the industrial estate located at Dhanansu village near Ludhiana.
Sharing details, Deputy Commissioner Varinder Kumar Sharma told The Tribune here on Monday that industrial plots are being offered at Rs 6,000 per sq yd, while the basic rate for allotment of land chunks beyond 10 acres has been fixed at Rs 4,783.5 per sq yd.
He disclosed that all mandatory approvals and clearances for the project, including approval of layout plan, change of land use, EIA clearance and RERA registration, have been obtained.
Divulging the status of allied works, ADC (General) Rahul Chaba said 30 acres of land was transferred with physical possession to the PSTCL to set up a 400-KV power supply grid substation, the work on which has also begun, to exclusively provide uninterrupted power supply to the hi-tech cycle valley.
He said 378.77 acres of land has been procured for the project at Rs 120 crore.
Besides constructing a new 100-ft-wide four-lane 8.3-km-long external approach road to the industrial park from the Chandigarh-Ludhiana NH-5, another alternate route via Budhewal Sugar Mills has been widened and strengthened.
A high-level bridge across the Buddha Nullah along the approach road to the project site has also been constructed to ensure hassle-free passage.
“Around 75 per cent internal development works of basic infrastructure, like internal concrete roads, storm water drainage, effluent and sewage discharge system, electrical trench and water supply distribution system, are complete while the remaining works will be completed in all respects by February next,” disclosed the DC.
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.
Recently, Aditya Birla Group has begun work to 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. Hero Cycles is setting up its anchor unit over 100 acres worth Rs 400 crore, which promises to offer 1,000 direct employment opportunities and produce 4 million bicycles per annum, especially premium 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.
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