Punjab CM Bhagwant Mann hands over land allotment letter to Tata Steel for ₹2,600 cr plant

During a meeting with the delegation led by Global CEO & Managing Director, Tata Steel Limited, TV Narendran, on Friday, the CM said, “We are committed to making Punjab the front runner in the industrial sector and this maiden investment by Tata Group in the state is a step forward in this direction.”

Punjab chief minister (CM) Bhagwant Mann on Friday handed over land allotment letter to Tata Group for setting up its scrap-based steel plant, at an investment of ₹2,600 crore, in Ludhiana.

Welcoming the Tata group to the state, Punjab CM Bhagwant Mann said the state government will extend full support and cooperation to Tata Group for setting up and operationalising the plant. (HT File)

During a meeting with the delegation led by Global CEO & Managing Director, Tata Steel Limited, TV Narendran, on Friday, the CM said, “We are committed to making Punjab the front runner in the industrial sector and this maiden investment by Tata Group in the state is a step forward in this direction.”

Welcoming the Tata group to the state, CM Mann said the state government will extend full support and cooperation to Tata Group for setting up and operationalising the plant.

The CM said the youth of the state will be immensely benefited by this project as it will open new employment opportunities for them.

He said Tata Group will invest around ₹2,600 crore in the first phase of the project, which will be located in Ludhiana, adjacent the Hi-Tech Valley Industrial Park of the Punjab government.

Mann said that this is the first investment by the Tata Group in Punjab, adding that it will prove to be a milestone in propelling industrial growth in the state.

The CM also praised the team of Invest Punjab which facilitated Tata Steel management in their endeavour.

He said that this electric arc furnace-based plant will produce 0.75 MTPA finished steel adding that the raw material for the steel-making process is 100% scrap. Bhagwant Mann said that the plant will be spread over 115 acres of land adjacent to the state-of-the art Industrial Park developed by PSIEC. Tata Steel CEO and managing director TV Narendran thanked the government for its support and said that Punjab is an ideal location for electric arc furnace, given its proximity to the market and scrap generating auto hub.