DHANANSU CYCLE VALLEY PROJECT ON TRACK: CAPT

LUDHIANA: Punjab chief minister (CM) Captain Amarinder Singh on Wednesday said that the government was making all efforts to see that the Dhanansu cycle valley project was on track and made operational by year end.

The CM was addressing a webinar organised by Hero Cycles to celebrate the production of 150 million cycles since 1956. Officials of the firm from across the world including the UK and Germany joined Punjab government officials at the webinar.

The cycle valley is being developed on 380 acre land in Dhanansu. Hero Cycles is developing an anchor unit on 100 acres allotted to the firm in January 2019. Moreover, with the unveiling of the Hero Industrial Park at the upcoming International Cycle Valley in Punjab, Hero Cycles will be able to augment its manufacturing capacity to 10 million units annually by March 2021, said Pankaj Munjal, chairman and managing director of Hero Cycles. He sought reduction in taxes on traditional cycles priced below ₹5,000.