Bhagwant Mann lays foundation stone of Tata steel plant in Ludhiana

Mann said that this is the second largest plant by the Tata group in the country after Jamshedpur.

Ludhiana: Punjab Chief Minister Bhagwant Singh Mann on Friday said the Tata group's big investment in the state will herald a new era of industrial development and progress.

Addressing a gathering, after performing the ground breaking ceremony of the plant coming up at a cost of nearly Rs 2,600 crore, he said, Tata is a renowned name across the globe and the huge investment made by the company in the state will inspire other companies to follow suit.

He said this is the second largest plant by the Tata group in the country after Jamshedpur.

Notably, Tata Steel last year signed a memorandum of understanding (MoU) with the Punjab government to set up a steel scrap-based electric arc furnace steel plant.

Mann said, besides opening new avenues of employment for the youth, this project will act as a catalyst in giving fillip to industrial development of the state.

He said 'this whopping investment is a slap on the face of those forces that defame the state on the law and order front'.

Mann said such investments come only in peaceful states adding that this investment has proved that Punjab today is the most peaceful state in the country.

According to an official statement, the plant will produce construction-grade steel rebar under the company's flagship retail brand 'Tata Tiscon'.

'The plant having a capacity of 0.75 MTPA (million tonnes per annum) with a 100 per cent scrap-based electric arc furnace is set up over 115 acres of land at Kadiana Khurd, Hi-Tech Valley.

Mann announced that the state government will construct the road leading to the site of the plant from the National Highway.

The project is likely to create direct and indirect employment opportunities for around 500 direct and 2,000 indirect individuals, respectively, through its operations, as per the statement.

The Chief Minister said that Punjab is known for its spirit of enterprise, which is bolstered by the warm and welcoming people of the state.

He said due to the efforts made by the state government, Punjab has so far received investments to the tune of Rs 56,796 crores since mid-March 2022, and generated employment opportunities for 2.98 lakh youth.        

In the steel and alloys sector, Punjab is a significant player, with more than 200 steel rolling mills and key clusters in Mandi Gobindgarh and Ludhiana.

It is home to major steel units like Vardhaman Special Steels, Aarti Steels, Hero Steels, JSW Steels and more and this sector has been identified as a thrust sector under the Industrial Business Development Policy 2022.

In his address CEO & MD Tata Steels T V Narendran thanked the Chief Minister for ensuring that all the clearances are given in a stipulated and time bound manner.

He said that the plant will be ready and operational within the coming 18 months.

During the last 18 months, some of the biggest companies like Tata Steel, Sanathan Textiles, Toppan, and Freudenberg Group are making a beeline to invest in the state, he said, adding that his government has taken a path breaking initiative of organizing the 'Sarkar Sanatkar Milnis' to facilitate industrialists.

In February 2023, mini conclaves were hosted in Amritsar, Jalandhar, Ludhiana, Mohali, and Pathankot providing a platform to interact with local industry stakeholders and gather suggestions, he said, adding that a WhatsApp number and email was launched for getting the suggestions of industrialists in July 2023.

Based on the feedback received the government formulated policy reforms which were announced during the Sarkar Santkar Milnis.

He said that Punjab is well-connected to both the Eastern and Western Freight Corridors, with multiple logistics facilities, international and domestic airports, and excellent rail and road connectivity.

Punjab also has a peaceful labour environment, with no labour unrest faced by any industrial units over three decades, he said, adding the state has one of the lowest rates of cognizable crime among major industrial states in India.

The Chief Minister said Punjab is also home to prestigious educational institutions such as IIT, IIM, Indian School of Business, and more which are helping in providing a pool of skilled manpower.