The Punjab government will establish a high-tech cycle valley spread over 383 acres in Dhanansu village of Ludhiana district as part of its efforts to bolster the industrial sector and create jobs, the state's Industries and Commerce Minister Sunder Sham Arora said on Sunday.
The modalities with regard to purchasing the required land have been completed and the layout plan has also been accorded approval. The project would entail a cost of Rs 300 crore, he said in an official statement here.
Arora said the Chief Minister Amarinder Singh-led Congress government is working diligently towards setting up such industrial units in the state which would serve the twin purpose of being environmentally friendly and providing employment avenues to the youth.
He said the requisite clearances for establishing the cycle valley have already been obtained, including those from the Union Ministry of Environment, Forest and Climate Change.
The minister said a 100-acre plot has been allotted and possession given to Hero Cycles Limited, Ludhiana in December 2018 for setting up of its main unit.
Arora said Hero Cycles has set a target of commencing production by April 2022.
The cycle valley would be connected with the Chandigarh-Ludhiana National Highway by constructing a 100-feet wide four-lane and 8.5 km long external road, the minister added.
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