Hero Cycles is planning to set up a Rs 400 crore cycle project near Sahnewal in Punjab.
It will come up at the proposed 300-acre ‘cycle valley’ on the outskirts of Ludhiana.
According to a PTI report, Hero Cycles’ Chairman Pankaj Munjal, who met Chief Minister Amarinder Singh, shared a detailed report on the project, which includes technical and R&D centres and other critical industry facilities.
Munjal added the project would require about 100 acres of land and would lead to doubling of the people involved in the cycle industry from the current 4.5 lakh.
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