CM Bhagwant Mann Lays Foundation Stone Of India’s First-Of-Its-Kind Vardhman-Aichi Steel Forging Plant

Published 27 July 2026 · politics

CM Bhagwant Mann Lays Foundation Stone Of India’s First-Of-Its-Kind Vardhman-Aichi Steel Forging Plant Published By, Last Updated: July 27, 2026, 23:06 IST The Chief Minister

CM Bhagwant Mann Lays Foundation Stone Of India’s First-Of-Its-Kind Vardhman-Aichi Steel Forging Plant Published By, Last Updated: July 27, 2026, 23:06 IST The Chief Minister expressed confidence that future expansion by the Vardhman-Aichi venture could create jobs for another 2,000 people. Rapid Read Addressing the gathering, CM Bhagwant Singh Mann said, “This project marks the dawn of a new era for Punjab’s industrial sector. (Photo: X/BhagwantMann) Punjab Chief Minister Bhagwant Singh Mann on Monday laid the foundation stone of the country’s first-of-its-kind ₹1,116 crore forging and machining unit being established by Vardhman Special Steels in partnership with Japan’s Aichi Steel, describing it as a major boost to Punjab’s industrial growth and employment generation. The project will provide direct employment to over 500 youth, while the Chief Minister expressed confidence that future expansion by the Vardhman-Aichi venture could create jobs for another 2,000 people. He said the investment, enhanced from the initially proposed ₹500 crore to ₹1,116 crore after the companies witnessed Punjab’s conducive industrial environment, reflects growing global confidence in the state’s pro-industry policies. The plant will manufacture high-value automobile components for domestic and international markets, while Punjab’s new industrial policy ensures all approvals within 45 days through the Single-Window, Single-Pen system. Addressing the gathering, CM Bhagwant Singh Mann said, “This project marks the dawn of a new era for Punjab’s industrial sector. It will provide direct employment to more than 500 youth while accelerating the economic development of the state. Vardhman is not only a leading industrial group but also an important part of Punjab’s growth story, having operated in the state for nearly four decades. The partnership between Vardhman and Aichi Steel is based on trust, technology and a long-term vision." The Chief Minister said, “Aichi Steel is a respected Japanese company and an important supplier to the Toyota Group.

During our visit to Japan in December 2025, we met the leadership of Aichi Steel in Nagoya. At that time, Vardhman and Aichi Steel signed an MoU to explore setting up a new manufacturing facility in Punjab with an investment potential of around ₹500 crore. Today, within a few months, that MoU has transformed into a real project. This is the true meaning of translating policy into practice and commitment into reality. The total planned investment across two phases is around ₹1,100 crore." Highlighting the significance of the project, CM Bhagwant Singh Mann said, “This project will bring advanced Japanese forging technology to Punjab and manufacture high-value automobile components for India as well as markets in Europe, ASEAN, Africa and Mexico. Punjab will not only produce special steel but will also manufacture precision-engineered finished components. This is an important transition from basic manufacturing to high-value manufacturing and will further strengthen Ludhiana’s position as a major centre for engineering, automobile parts and advanced manufacturing." Referring to the state’s industrial ecosystem, the Chief Minister pointed out, “This investment demonstrates the confidence that international companies have in Punjab’s skilled workforce, work culture and industrial strength. The Punjab Industrial and Business Development Policy 2026 provides support through 24 sectoral policies and promotes advanced manufacturing, exports, technology, employment and sustainable industrial growth. Our approach is simple. Investors should receive clear policies, quick decisions and complete support throughout the life of their projects." He stated, “Punjab has established a unique system of one office, one portal, ‘Single Window-Single Pen’, and single-point responsibility. ‘Invest Punjab’ serves as the single point of contact for investors from the first discussion to approvals, construction, production and future expansion. Through the Fast Track Punjab Portal, investors can apply, pay fees and track approvals online.