New Delhi, Oct 31 (KNN) For the development of state-of-the-art industrial park to boost the cycle and light engineering industry, Punjab government has decided to earmark 100 acres of land in the upcoming hi-tech cycle valley at Dhanansu village in Ludhiana.

Within the project, the government has already approved the project for setting up of the cycle valley through the Punjab Small Industries and Export Corporation (PSIEC) in over 380 acres of panchayat land.

The key objective behind setting up industrial park is to create an eco-system for hi-tech bicycles and engineering products in a way to give stimulus to the local industry with upgrading technology and also to make them globally competitive, as industrial growth of Ludhiana significantly relies on cycle and small-scale manufacturing industry.

Along with ancillary or vendor units at the cycle valley, the corporation will develop the industrial park to give boost to hi-tech industrial cluster.

The PSIEC is inviting request for proposal for the selection of a project company to setup an anchor unit for manufacturing mobility solutions like automobile, auto components, bicycle, bicycle parts, electric vehicles such as e-bikes, e-rickshaws, lithium ion batteries etc.