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PSIEC MD, officials visit Hi-Tech Cycle Valley project site at Ludhiana village
Sumeet Jarangal says Hero Cycles striving hard to complete the project and may start production much before 3-year target
The Hero Cycles Limited is striving hard to complete the Hi-Tech Cycle Valley project at Dhanansu village and is likely to commence commercial production much before the target period of three years by April 13, 2022.
This was stated by managing director, Punjab Small Industries and Export Corporation (PSIEC), Sumeet Jarangal, who visited the valley site along with senior officials of the corporation and other departments on Tuesday.
Vice-chairman of Hero Cycles Limited SK Rai and other senior officials of the company were also present on the occasion. The company officials highlighted some important issues requiring the PSIEC’s attention.
Jarangal said the PSIEC had embarked upon its ambitious project of development of the valley in an area of 380 acres of land and, out of which, 100-acre land had already been allotted to Hero Cycle on December 21, 2018. He said that the possession of the entire site was delivered on April 14, 2019.
“The company has already constructed the boundary wall, site office and the internal development of the plot is in progress. Upon completion of the project, the company will generate employment opportunities for 3,000-5,000 people,” he said.
He said, “To provide uninterrupted power supply to the valley, 30-acre land has been allotted to the PSPCL for the setting up of a 400kva substation, the work of internal development of remaining 250 acres that is roads, storm drains, sewerage system, electrical trench, water supply network has been started at the site and will be completed within 15 months that is by August 31, 2021, the construction of a concrete approach road and a high-level bridge over the Buddha Nullah is in progress and the same will be completed by December 31, 2020.”
Jarangal said, “The PSIEC is now planning to put up a 50-acre undeveloped chunk of land on e-auction very soon. All-out efforts are being made to make up for the delay due to curfew/lockdown owing to Covid-19. Various executing agencies are given targeted timelines for the completion of the project.” He also assured all timely inputs by the corporation.
