Ludhiana cycle valley project to see the light of day next year
Vijay C Roy/Shivani Bhakoo
Tribune News Service
Chandigarh/Ludhiana, Aug 5
The Punjab Government’s ambitious International Cycle Valley project, spread across 380 acres at Dhanansu, near Ludhiana, is likely to see the light of day next year. Bicycle giant Hero Cycles today announced it would commence operations in the first phase of the project by March 2021 with an installed capacity of four million cycles per annum.
15-crore milestone
Hero Cycles, which has a 43% market share in the country, has so far manufactured 16.73 crore units with over 15 crore at the Ludhiana plant alone.
This was stated by Pankaj M Munjal, CMD, Hero Motors Company, at a webinar to mark the milestone of 15-crore production mark at Ludhiana plant. The company started production in 1956 when it produced 639 bicycles. Hero Cycles, which has a 43% market share in the country, has so far produced 16.73 crore units with over 15 crore at the Ludhiana plant alone.
Punjab Chief Minister Capt Amarinder Singh congratulated the Hero family on the occasion during a video conference, which was attended by dealers of Hero Cycles from across the country, supplier partners, core team members from all over the world and senior government functionaries.
“We are a major player at the upcoming International Cycle Valley project. The state-of-the-art Hero Industrial Park is being set up at sprawling 100 acres and it will increase our manufacturing capacity to 10 million units per annum by the last quarter of FY21,” Munjal said.
Currently, the company has a manufacturing capacity of over six million units annually with a highly integrated network of plants located in Ludhiana, Ghaziabad, Bihta (Bihar) and a state-of-the-art manufacturing facility in Sri Lanka.
Though Ludhiana is a hub of the cycle industry of India, its growth has been stagnant for the past few years. Of the total cycles produced in the country, Ludhiana has a lion’s share and it produces over 1.5 crore cycles per annum.
