Chandigarh, Dec. 4 -- Punjab Chief Minister Bhagwant Singh Mann on Thursday secured an investment commitment of around Rs 500 crore during the third day of his Japan visit, as Japanese steel major Aichi Steel agreed to expand its partnership with Ludhiana-based Vardhman Special Steels. The two companies signed an MoU in Mann's presence, marking a fresh push to deepen Indo-Japan industrial cooperation in Punjab.
Calling the agreement a "red-letter day" for the state, Mann said Aichi Steel - the steel manufacturing arm of Toyota - already holds nearly 25 per cent stake in Vardhman and has been a key technology partner in Punjab's automotive-grade steel manufacturing. The expanded collaboration will include a feasibility study for future factory operations in Punjab and additional investment estimated at Rs 500 crore.
The Chief Minister assured all administrative support to the Japanese group for scaling its operations, stressing that Punjab accords priority to existing Japanese investors and seeks to facilitate their growth. He said Aichi's technical expertise combined with Vardhman's manufacturing strength could usher in a new phase of industrial growth and advanced steel production in the state.
Mann also invited Aichi Steel's leadership to attend the Progressive Punjab Investors' Summit scheduled from March 13 to 15, 2026, at the Indian School of Business, Mohali. He said the summit will gather leading global manufacturers, highlight Punjab's industrial progress and open doors for new collaborations.
Reiterating his government's investment pitch, Mann said Punjab aims to position itself as a preferred industrial destination through stable policies, fast-tracked clearances and a governance system that values investor trust and time.
Published by HT Digital Content Services with permission from Millennium Post.