The Chief Minister assured full cooperation to Vardhaman Steel Group for setting up the plant.
Chandigarh (Aaj Samaj). Punjab Chief Minister Agwant Singh Mann today assured full cooperation with Vardhaman Special Steels Limited (VSSL) to set up a new unit for manufacturing special alloy steel through electric arc furnace route in the state at a cost of Rs 1,750 crore. During a meeting here today with Sachit Jain, vice-president and managing director of VSSL, at the Punjab Civil Secretariat, the Chief Minister said that the Punjab government is committed to promoting investment in the state.
He said it is a matter of joy that VSSL is setting up a greenfield unit to manufacture special alloy steel through electric arc furnaces at a cost of Rs 1,750 crore. • Agwant Singh Mann said that this project with a capacity of 5 lakh tonnes per annum will be established with an investment of Rs 1,750 crore in collaboration with Japanese company Aichi Steel Corporation. The Chief Minister said that this project is likely to provide employment to more than 1,500 youth of the state and the company will produce green steel at this plant.
He said the project would generate huge revenue for the state and the country as more than 20 percent of the product would be exported to Japanese and European companies. Agwant Singh Mann said that VSSL is a reputed company and the huge investment made by this reputed company in the state will inspire other companies to do the same.
The Chief Minister highlighted that the Punjab Government is sparing no efforts to promote industry and commerce in the state. He said that due to the efforts of the government, Tata Steel, Sanatan Textile and other leading companies have so far received investments worth Rs 86,000 crore in the state. •Agwant Singh Mann said that there is an atmosphere of community unity, peace and goodwill in Punjab, which is the basis for the all-round development and prosperity of the state.
The Chief Minister said companies are making full use of the excellent infrastructure, affordable energy, skilled human resources and excellent industrial culture available in the state to expand their businesses. He said Punjab is becoming a major industrial hub of the country, where investors are getting ample opportunities to expand their businesses. • Agwant Singh Mann said that the state government is always ready for new ideas and efforts to encourage industrial development in Punjab. Industry Minister Tarunpreet Singh Sond was present on this occasion.
