Punjab CM Secures INR 500 Crore Investment Boost from Japan as Aichi Steel Expands Collaboration

The projected investment under this expansion is about INR 500 crore.

Punjab CM Secures INR 500 Crore Investment Boost from Japan as Aichi Steel Expands Collaboration

Punjab CM Bhagwant Singh Mann, on the third day of his Japan visit, secured an investment of approximately INR 500 crore for the state. Japanese steel major Aichi Steel agreed to expand its collaboration with Ludhiana-based Vardhman Special Steels.

In the presence of the CM, Aichi Steel and Vardhman Special Steels formally signed a Memorandum of Understanding (MoU). It is a major step in deepening industrial cooperation between Japan and Punjab.

Aichi Steel already has a 24.9 per cent stake in Vardhman. It will now study future factory operations in Punjab, including a feasibility assessment for establishing new manufactu