Punjab Chief Minister Bhagwant Mann | (Photo: PTI)
Punjab Chief Minister Bhagwant Mann on Thursday assured his full support to Modern Automotives in its plans to expand its project in the state and manufacture parts for luxury carmaker BMW.
A delegation of 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 axles to German luxury vehicle manufacturer BMW AG Munich, according to an official statement.
They said an order for 2.50 million units valued at Rs 150 crore has been confirmed, the statement said.
After assuring the company of his full support for its future endeavours, Mann accepted the delegation’s invitation to lay the foundation stone for the upcoming plant next month at Mandi Gobindgarh.
He said it is a source of immense pride and satisfaction that parts for BMW are now produced in the state.
Mann said this move will give impetus to the industrial growth of the state, besides putting Punjab on the international map. He reiterated that the state has an industry-friendly government with a true single-window system for the welfare of investors.
Punjab is a land of opportunity and leading companies from across the world are rapidly flocking to invest in the state, he said.
Punjab has complete communal harmony, industrial peace along with a congenial atmosphere for industrial growth, which is giving impetus to its overall development, prosperity and progress, Mann said.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First published: September 19, 2024 | 18:10 IS
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