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Punjab Chief Minister Bhagwant Mann | (Photo: PTI)
Punjab Chief Minister Bhagwant Mann on Thursday assured full support to Modern Automotives for its plans to expand its project in the state and manufacture parts for luxury car maker BMW.
A delegation of the Modern Automotives Ltd comprising its representatives — Aditya Goyal, Suhail Goyal and Manish Bagga called on the Chief Minister here.
During the meeting, Mann was informed that Modern Automotive has become the first Indian company to receive approval for deliveries of differential pinion shafts to German luxury vehicles manufacturer BMW AG Munich, according to an official statement.
They said that an order has been confirmed for 2.50 million units valued at Rs 150 crore, the statement said.
Assuring fulsome support to the company for their future endeavours, Mann accepted the invitation of the delegation to lay the foundation stone of the upcoming plant next month at Mandi Gobindgarh.
He said it is a matter of immense pride and satisfaction that the parts for BMW will now be produced in the state.
Mann said this move will give impetus to industrial growth of the state, besides highlighting Punjab on the international map. He reiterated that the state has an industrial-friendly government with a real single window system for the well-being of investors.
Punjab is a land of opportunities and the leading companies from across the world are making a beeline to invest in the state, he said.
Punjab has complete communal harmony, industrial peace coupled with congenial atmosphere for industrial growth, which are giving impetus to its overall development, prosperity and progress, said Mann.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Sep 19 2024 | 6:10 PM IST
