Ludhiana, July 28: Punjab Chief Minister Bhagwant Singh Mann on Monday laid the foundation stone for a ₹1,116 crore forging and machining facility in Ludhiana, marking a major milestone in the state’s industrial manufacturing expansion. The project, established by Vardhman Special Steels in collaboration with Japan-based Aichi Steel, will manufacture high-value automobile components for domestic supply and global exports.
Initial investment estimates for the facility were set at ₹500 crore following preliminary discussions in Japan. However, the joint venture partners expanded the total planned outlay to ₹1,116 crore across two development phases. The plant is projected to create direct employment for 500 workers immediately, with subsequent expansion phases expected to generate up to 2,000 additional jobs.
Speaking at the foundation-laying ceremony in Ludhiana, Chief Minister Bhagwant Singh Mann stated that the project brings advanced Japanese technical expertise into Punjab’s local industrial ecosystem.
“This project marks the dawn of a new era for Punjab’s industrial sector,” CM Bhagwant Singh Mann declared. “It will provide direct employment to more than 500 youth while accelerating the economic development of the state. Vardhman is not only a leading industrial group but also an important part of Punjab’s growth story, having operated in the state for nearly four decades. The partnership between Vardhman and Aichi Steel is based on trust, technology and a long-term vision.”
The Chief Minister noted that the venture will manufacture specialized automotive components destined for key international markets across Europe, ASEAN, Africa, and Mexico, cementing Ludhiana’s position as an engineering hub.
“Aichi Steel is a respected Japanese company and an important supplier to the Toyota Group,” CM Bhagwant Singh Mann affirmed. “This project will bring advanced Japanese forging technology to Punjab and manufacture high-value automobile components for India as well as markets in Europe, ASEAN, Africa and Mexico. Punjab will not only produce special steel but will also manufacture precision-engineered finished components. This is an important transition from basic manufacturing to high-value manufacturing and will further strengthen Ludhiana’s position as a major centre for engineering, automobile parts and advanced manufacturing.”
Discussing administrative reforms designed to attract commercial enterprise, the Chief Minister maintained that statutory clearances are now processed under fixed timelines.
“Approvals are monitored through fixed timelines and applications are decided within a maximum of 45 working days, with an auto-deemed approval system wherever applicable under ‘single window-single pen’ system,” CM Bhagwant Singh Mann maintained. “Our objective is to eliminate unnecessary delays and make governance transparent, predictable and accountable. Punjab has already attracted investments worth around ₹1.78 lakh crore with the potential to generate employment for nearly six lakh people.”
Addressing the broader social impact of economic growth, Mann asserted that expanding manufacturing jobs remains a core strategy for supporting youth across the state.
“Our objective is to place tiffins in the hands of our youth by providing them with employment so that they stay away from syringes and the menace of drugs,” CM Bhagwant Singh Mann asserted. “Idle hands are a devil’s workshop, and unemployment is the root cause of several social problems. Therefore, the Punjab Government is making every possible effort to generate maximum employment opportunities and ensure that our youth build a prosperous future through meaningful jobs.”
