Punjab Attracts Over ₹1000 Crore Greenfield Investment in Specialty Steel Manufacturing

Punjab has secured a significant greenfield investment of ₹1003.57 crore in the specialty steel manufacturing sector. The proposed state-of-the-art steel plant, to be established in the Ludhiana district, is expected to create over 920 jobs. This investment is poised to bolster the state's industrial ecosystem and the automobile sector. Aisrm Multimetals Private Limited, part of the Arora Iron Group, will develop the facility on approximately 46 acres. The project, with an annual production capacity of 5.40 lakh metric tons, will utilize scrap and ferroalloys as raw materials to produce products like round bars, wire rod, coils, and flats. Advanced technologies including induction furnaces, electric arc furnaces, and modern rolling mills will be employed. The plant aims for a first-phase operational launch by September 2027.