Ludhiana, Apr 13 (PTI) Punjab Industries Minister Sunder Sham Arora on Tuesday inaugurated a new plant of Hero Motors Company (HMC) at Hi-Tech Cycle Valley, village Dhanansu, near here.
Earlier, the cabinet minister also inaugurated the 8.5 km long and 100 feet wide approach road (connecting Chandigarh Road to cycle valley), that has been constructed at a cost of Rs 66 crore.
Hero Motors Company Cairman and Managing Director Pankaj Munjal while speaking on the occasion said that the cycle valley is a critical element in establishing HMC's global engineering and manufacturing chain with research and development facilities centred in Europe and manufacturing in India.
He said that the new factory is a major component of Hero Motors Company's (HMC) ambition to make India a global manufacturing hub of premium bicycles and E Cycles.
He said the factory will help HMC augment its production capacity to 10 million units annually, with a production of 4 million premium bicycles and E Cycles, majorly for global consumption.
Along with the new plant, Hero E Cycle Valley will also house a series of international component suppliers to achieve complete localisation of manufacturing in India, he said. PTI COR CHS VSD MKJ