Amid the revival in industry sentiment in Punjab, Hero Cycles on April 22 expressed interest in setting up a Rs.400 crore 'cycle valley', on the lines of the Silicon Valley, near the state's Sahnewal town.
This was conveyed by Hero Cycles' Pankaj Munjal at a meeting with Chief Minister Amarinder Singh here.
During the meeting, the Chief Minister asked Munjal to share a detailed proposal for the project, which would include technical and research and development centres, among other critical industry facilities, according to a spokesperson in the Chief Minister's office.
Munjal informed the Chief Minister the project would require about 100 acres of land and would lead to a doubling, from the current 4.5 lakh, of the people involved directly or indirectly in the cycle industry.