Chandigarh, February 23 Punjab Chief Minister Bhagwant Singh Mann said that Tata Steel will begin operations at its new manufacturing plant in Ludhiana from March, providing a major boost to industrial growth in the state.
Mann said the project demonstrates the increasing confidence of the industry in the state's policies and governance.
The plant, located near HiTech Valley, will have a 0.75 MTPA steelmaking facility based on electric arc furnaces, along with a rebar mill.
The project spans 115 acres.
He said the initial investment of ₹2,600 crore has now increased to ₹3,200 crore.
The plant is expected to create employment for around 2,500 people.
The chief minister said that the unit will use 100 per cent steel scrap as raw material and adopt an environmentally friendly production process.
He added that the electric arc furnace technology reduces carbon emissions compared to traditional methods.
Mann said that the Ludhiana facility will be Tata Steel's second-largest plant in India after Jamshedpur, and it will be the company's largest investment in Punjab.
He added that the Punjab government ensured the timely execution of the project and assured full support for its smooth operation and future expansion.