Dhanansu cycle valley project in Ludhiana on track, says Punjab CM

The cycle valley is being developed on 380 acre land in Dhanansu.

Punjab chief minister (CM) Captain Amarinder Singh on Wednesday said that the government was making all efforts to see that the Dhanansu cycle valley project was on track and made operational by year end.

HT Image

The CM was addressing a webinar organised by Hero Cycles to celebrate the production of 150 million cycles since 1956. Officials of the firm from across the world including the UK and Germany joined Punjab government officials at the webinar.

The cycle valley is being developed on 380 acre land in Dhanansu. Hero Cycles is developing an anchor unit on 100 acres allotted to the firm in January 2019. Moreover, with the unveiling of the Hero Industrial Park at the upcoming International Cycle Valley in Punjab, Hero Cycles will be able to augment its manufacturing capacity to 10 million units annually by March 2021, said Pankaj Munjal, chairman and managing director of Hero Cycles.

The company which owns a 43% share in the Indian market has so far produced 167.35 million units of bicycles–with 150.9 million coming from the Ludhiana plant alone. During the interaction, Munjal sought reduction in taxes on traditional cycles priced below ₹5,000 so as to benefit the poor. He also urged the CM to promote safe cycling lanes in the state. The CM assured him support on all counts.