Chandigarh, June 8
The Punjab Government today cleared the super mega car manufacturing project of Rs 1500 crore to be set up by the German automobile company, Volkswagen, at any of three sites available at Nabha, Ropar or Ladowal in Ludhiana.
A six-member high-powered delegation led by the Head of Volkswagen India project, Mr Peter Walters, today called on Chief Minister Amarinder Singh to finalise the modalities to establish this project.
The Chief Minister said this unit would manufacture a wide range of vehicles with a price of Rs 4 lakh to Rs 10 lakh. The annual turnover of the project would be Rs 7,000 crore with a manufacturing capacity of one lakh cars per year.
He said it would generate direct employment for 5,000 persons, besides indirect potential for 50,000. It would also revive the dormant auto ancillary units.
The Chief Minister assured the delegation that the state government was committed to providing all facilities and incentives for this project. These incentives would include provision of land, connectivity, assured power and water supply and capital subsidy. The details of the project were being finalised and a memorandum of understanding would be signed soon.
