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Hero Cycles Keen to Invest Rs 400 cr For 'Cycle Valley' in Punjab: Pankaj Munjal

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

IANS

Updated:April 22, 2017, 9:19 PM IST
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Hero Cycles Keen to Invest Rs 400 cr For 'Cycle Valley' in Punjab: Pankaj Munjal
Hero Cycles on Saturday expressed interest in setting up a Rs 400 crore 'cycle valley' in Punjab. (File photo)

New Delhi: Amid the revival in industry sentiment in Punjab, Hero Cycles on Saturday 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 in New Delhi.

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 an spokesperson in the Chief Minister's office.

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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