Tata Steel’s manufacturing plant in Ludhiana will start from March, giving a boost to Punjab’s industrial growth, chief minister Bhagwant Mann said on Monday.
Interacting with Tata Steel vice president (long products) Ashish Anupam and other officials, Mann said, “Tata Steel Group is among the world’s leading steel manufacturers, with an annual crude steel capacity of approximately 34 million tonnes per annum and a strong global footprint across multiple geographies.”
He noted that the company is establishing an electric arc furnace-based steelmaking facility, along with a Rebar Mill, near HiTech Valley, Ludhiana, spanning 115 acres.
“The project initially envisaged an investment of approximately ₹2,600 crore, which has now increased to ₹3,200 crore. The plant is expected to generate employment opportunities for around 2,500 persons. The unit will utilise 100% steel scrap as raw material and will adopt a sustainable and environmentally responsible production process,” Mann said.
“This facility is the second largest plant of Tata Steel in India after Jamshedpur and represents the company’s largest investment in Punjab,” Mann said. Cabinet minister Sanjeev Arora, chief secretary KAP Sinha and other senior officials were also present on the occasion.