Industry, investment promotion, power and local government department minister Sanjeev Arora said the Mahindra group is strengthening its manufacturing footprint in Punjab, with the state rapidly emerging as one of the most sought-after investment destinations in the country.
Sharing details of discussions with Vinod Sahay, executive chairman of SML Mahindra Limited, Arora said that the company has charted out a major expansion roadmap for Punjab, which includes an investment of ₹100 crore towards modernisation and upgradation of the existing facility, along with a proposed ₹400 crore investment through the relocation of a manufacturing unit from another state to Punjab, according to a press release.
Mahindra & Mahindra has already invested around ₹500 crore at its integrated automobile manufacturing facility in Shaheed Bhagat Singh Nagar, said Arora in a release.