The foundation stone for the over 8-km-long approach road to the hi-tech Cycle Valley here from Chandigarh-Ludhiana NH-5 was jointly laid by Punjab Finance Minister Manpreet Singh Badal and Industries and Commerce Minister Sundar Shyam Arora on Thursday.
The approach road will be built at a cost of Rs 31.37 crore, Arora said.
Arora informed that industrial city Ludhiana will soon have the first-of-its-kind hi-tech cycle valley which will attract new industries.
"Besides this, it will provide alternative business activities to the existing units running in the residential areas of Ludhiana city," he said.
Pankaj Munjal, Chairman and Managing Director of Hero Cycles, was also present.
Notably, the Punjab government is building a high-tech cycle valley spread across 383 acres in Dhanansu village of Ludhiana district as part of its efforts to bolster the industrial sector and create jobs.