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Hero keen to invest Rs.400 crore for ‘cycle valley’ in Punjab

Amid the revival in industry sentiment in Punjab, Hero Cycles on April 22 expressed interest in setting up a Rs.400…

Hero keen to invest Rs.400 crore for ‘cycle valley’ in Punjab

(Photo: Getty Image)

Amid the revival in industry sentiment in Punjab, Hero Cycles on April 22 expressed interest in setting up a Rs.400 crore 'cycle valley', on the lines of the Silicon Valley, near the state's Sahnewal town.

This was conveyed by Hero Cycles' Pankaj Munjal at a meeting with Chief Minister Amarinder Singh here.

During the meeting, the Chief Minister asked Munjal to share a detailed proposal for the project, which would include technical and research and development centres, among other critical industry facilities, according to a spokesperson in the Chief Minister's office.

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Munjal informed the Chief Minister the project would require about 100 acres of land and would lead to a doubling, from the current 4.5 lakh, of the people involved directly or indirectly in the cycle industry.

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