Chandigarh: Punjab Chief Minister Bhagwant Mann today handed over the land allotment letter to Tata group for setting up its scrap based steel plant at an investment of Rs 2600 crore in the first phase at Ludhiana.
“We are committed for making Punjab a front runner in the industrial sector and this maiden investment by Tata group in state is a step forward in this direction”, asserted Pb Chief Minister during a meeting with delegation led by Global CEO & Managing Director, Tata Steel Limited TV Narendran.
Welcoming the Tata group to the state, the Chief Minister said that this is a ‘Red letter’ day in the history of the state as this is maiden investment by this globally leading company in the state.
Pb CM expressed hope that investment by this major industrial group will further put the state on high growth trajectory of industrial development and said that this is a proud moment for Punjab and state government will extend fulsome support and cooperation to Tata group for setting up and operationalizing the plant in state.
Chief Minister Mann, asserted that the youth of state will be immensely benefited from this project as it will open new employment opportunities for them.
He said that the Tata Group will invest around Rs 2600 crore in the first phase of the project which will be located at Ludhiana, adjacent to Hi-Tech Valley Industrial Park of the Government of Punjab.
Bhagwant 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 state.
Pb CM also patted team of Invest Punjab which facilitated Tata Steel management in their endeavour to set up Tata Group’s first scrap based integrated steel plant of India.
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.
On this occasion, Investment Promotion Minister Anmol Gagan Mann, Chief Secretary Vijay Kumar Janjua, Principal Secretary Dilip Kumar CEO Invest Punjab Kamal Kishore Yadav, Uma Shankar Gupta Addl. CEO Invest Punjab Spl Principal Secy to Chief Minister Ravi Bhagat and Kumar Amit, other officials were also present along with the delegation of Tata Steels including V. President Finl Operations & Corporate Reporting Sanjib Nanda, V.President Corporate Services Chanakya Chaudhary and MD Tata Steel Long Products Ashish Anupam.
On the occasion, Chief Executive Officer & Managing Director, Tata Steel, TV Narendran thanked the Government of Punjab for their support towards our ambitious greenfield project in the State and added that Punjab is an ideal location for their electric arc furnace given its proximity to the market and scrap generating Auto hub.