Ludhiana, July 3, 2020: Deputy Commissioner Varinder Sharma today visited the site of Hi-Tech Cycle Valley at village Dhanansu, near here today. Pankaj Munjal, Chairman, Hero Cycles Limited, SDM (East) Dr. Baljinder Singh Dhillon and other senior officials of the Company were also present on the occasion. The company officials highlighted some important issues requiring the Deputy Commissioner’s attention.
Varinder Sharma said that for the development of Hi-Tech Cycle Valley in an area of 380 acres of land, 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.
He said that the company has already constructed a boundary wall, site office whereas the 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 uninterrupted power supply to this cycle valley, 30 acres of land has been allotted to PSPCL for setting up of 400KVA Substation, 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 the 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 50 acres undeveloped chunk of land would be put on E-auction very soon. All our efforts are being made to make up the delay that occurred due to long curfew/lockdown owing to COVID-19. Various executing agencies were given targeted timelines for completion of the project, which would be achieved on time.