Hero keen to invest Rs 400 cr for cycle valley in Punjab

New Delhi April 22 (IANS) 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 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 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.

--IANS
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