Vijay C Roy/Shivani Bhakoo
Tribune News Service
Chandigarh/Ludhiana, Aug 5
The Punjab Government’s bold International Cycle Valley venture, unfold throughout 380 acres at Dhanansu, close to Ludhiana, is prone to see the sunshine of day subsequent 12 months. Bicycle large Hero Cycles in the present day introduced it could start operations within the first section of the venture by March 2021 with an put in capability of 4 million cycles each year.
Hero Cycles, which has a 43% market share within the nation, has up to now manufactured 16.73 crore models with over 15 crore on the Ludhiana plant alone.
This was said by Pankaj M Munjal, CMD, Hero Motors Company, at a webinar to mark the milestone of 15-crore manufacturing mark at Ludhiana plant. The firm began manufacturing in 1956 when it produced 639 bicycles. Hero Cycles, which has a 43% market share within the nation, has up to now produced 16.73 crore models with over 15 crore on the Ludhiana plant alone.
Punjab Chief Minister Capt Amarinder Singh congratulated the Hero household on the event throughout a video convention, which was attended by sellers of Hero Cycles from throughout the nation, provider companions, core group members from all around the world and senior authorities functionaries.
“We are a major player at the upcoming International Cycle Valley project. The state-of-the-art Hero Industrial Park is being set up at sprawling 100 acres and it will increase our manufacturing capacity to 10 million units per annum by the last quarter of FY21,” Munjal stated.
Currently, the corporate has a producing capability of over six million models yearly with a extremely built-in community of vegetation positioned in Ludhiana, Ghaziabad, Bihta (Bihar) and a state-of-the-art manufacturing facility in Sri Lanka.
Though Ludhiana is a hub of the cycle business of India, its development has been stagnant for the previous few years. Of the whole cycles produced within the nation, Ludhiana has a lion’s share and it produces over 1.5 crore cycles each year.