Punjab Secures Major Greenfield Investment in Special Steel Manufacturing Sector
In a significant development for Punjab's industrial landscape, the state has secured a substantial greenfield investment in the special steel manufacturing sector. Industries Minister Sanjeev Arora made this announcement on Friday, highlighting a major boost to the region's economic growth and employment prospects.
Details of the Investment and Project
The investment comes from AISRM Multimetals Private Limited (AISRM), which is part of the established Arora Iron Group. This group boasts an impressive turnover of approximately Rs 2,200 crore, demonstrating its strong financial foundation and industry experience. AISRM has proposed an investment of Rs 1,003.57 crore to establish a cutting-edge steel manufacturing facility.
The project will be located at Jaspallon village along the Doraha–Khanna Road in Ludhiana district. This strategic location is expected to leverage the existing industrial infrastructure and connectivity of the region. The facility will be spread over an area of around 46 acres, providing ample space for advanced manufacturing operations.
Employment Generation and Project Phases
One of the most notable aspects of this project is its potential to create substantial employment opportunities. The facility is expected to generate jobs for over 920 persons, offering a significant boost to industrial employment in Punjab. This will not only benefit the local workforce but also contribute to the overall economic development of the state.
The project will be implemented in a structured manner through three distinct phases. The first phase is targeted to become operational by September 2027, marking a clear timeline for the initial production capabilities. This phased approach allows for systematic development and resource allocation.
Production Capacity and Operational Details
The proposed steel manufacturing unit will have an installed capacity of 5.40 lakh metric tonnes per annum (MTPA), indicating a large-scale production capability. It will manufacture a diverse range of products including:
- Round bars
- Wire rods
- Coils
- Flats
The facility will utilize scrap and ferro alloys as raw materials, promoting sustainable practices in steel production. To maximize efficiency and output, the plant is proposed to operate on a triple-shift basis for nearly 350 days a year. This reflects the continuous and intensive nature of the operations, ensuring optimal utilization of resources.
This greenfield investment represents a major milestone for Punjab's industrial sector, promising enhanced manufacturing capabilities, job creation, and economic growth in the Ludhiana region.
