CM Bhagwant Singh Mann Lays Foundation Stone of India’s First-of-Its-Kind ₹1,116 Crore Vardhman-Aichi Steel Forging Plant, 500 Youth to Get Direct Employment

Punjab Chief Minister Bhagwant Singh Mann on Monday laid the foundation stone of the country’s first-of-its-kind ₹1,116 crore forging and machining unit being established by Vardhman Special Steels in partnership with Japan’s Aichi Steel, describing it as a major boost to Punjab’s industrial growth and employment generation.

The project will provide direct employment to over 500 youth, while the Chief Minister expressed confidence that future expansion by the Vardhman-Aichi venture could create jobs for another 2,000 people. He said the investment, enhanced from the initially proposed ₹500 crore to ₹1,116 crore after the companies witnessed Punjab’s conducive industrial environment, reflects growing global confidence in the state’s pro-industry policies. The plant will manufacture high-value automobile components for domestic and international markets, while Punjab’s new industrial policy ensures all approvals within 45 days through the Single-Window, Single-Pen system.