The record
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- Punjab Chief Minister Bhagwant Singh Mann laid the foundation stone for a ₹1,116 crore steel forging and machining plant in Ludhiana, a joint venture between Vardhman Special Steels and Japan's Aichi Steel.
- The project, which grew from an initial ₹500 crore proposal made after a December 2025 MoU signed during the state government's Japan visit, is expected to create over 500 direct jobs with possible expansion supporting another 2,000.
- The plant will make high-value automobile components for Indian and export markets, and the Chief Minister framed it as evidence of growing investor confidence in Punjab's industrial policies.
- The announcement also highlighted the state's promise of approvals within 45 days through its single-window system.
What to watch next
- Timely completion of the plant, which the state government has promised to fully support
- Whether the projected expansion creating around 2,000 additional jobs materialises
- Whether further Japanese or international investments follow from the December 2025 Japan outreach
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Named India · Japan · Ludhiana · Aichi Steel · Bhagwant Mann · Punjab government · Tata Steel · Toyota Group · Vardhman Special Steels
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