PSIEC managing director visits hi-tech cycle valley at Village Dhanansu 

Ludhiana: Mr Sumeet Jarangal, IAS, Managing Director, Punjab Small Industries and Export Corporation (PSIEC) along with senior officials of the Corporation and other Govt Departments visited the site of Hi-Tech Cycle Valley at village Dhanansu, near here today. Mr SK Rai, Vice Chairman, M/s Hero Cycles limited and other senior officials of the Company were also present on the occasion. The company officials highlighted some important issues requiring PSIEC’s attention. 
    Mr Sumit Jarangal said that PSIEC has embarked upon its ambitious project of development of Hi-Tech Cycle Valley in an area of 380 acres of land and out of which, 100 acre land had already been allotted to M/s Hero Cycle Limited on December 21, 2018. He said that the possession of the site has been delivered on April 14, 2019. 
    “The company has already constructed boundary wall, site office whereas internal development of the plot is in progress. Further, the Company is striving hard to commence the commercial production much before the target period of  3 years i.e. by April 13, 2022. Upon completion of the project by Hero Cycles, the Company will generate employment opportunities for 3000-5000 persons,” he said.
    He further said that to provide un-interrupted power supply to this cycle valley, 30 acres of land has been allotted to PSPCL for setting up of 400KVA Sub-station, the work of internal development of remaining 250 acres i.e. concrete roads, storm drains, sewerage system, electrical trench, water supply network has been started at site and will be completed within 15 months i.e. up to August 31, 2021, construction of concrete approach road and High Level Bridge over Buddha Nullah is in progress and same will be completed by 31-12-2020.
    He said that the PSIEC is now Planning to put up a 50 acres undeveloped chunk of land on E-auction very soon. All out efforts are being made to make up the delay occurred due to long curfew/lockdown owing to COVID-19. Various executing agencies were given targeted timelines for completion of the project and also ensured timely inputs by the Corporation.