Punjab's Chief Minister, Bhagwant Mann, inaugurated the foundation-laying ceremony for a significant steel plant in Ludhiana on Friday. This plant, a venture under the esteemed Tata Group, comes with an estimated cost of ?72,600 crore and is poised to create 2,500 employment opportunities within the state.

The upcoming steel plant project in Punjab is distinctively focused on steel production through the steel recycling route. In fact, Tata Steel formalized its commitment to this endeavor by signing a Memorandum of Understanding (MoU) with the Punjab Government, a significant milestone reached on August 26, 2022. The plant's infrastructure will prominently feature a scrap-based electric arc furnace, underscoring the company's commitment to eco-friendly and sustainable steel production practices.

This initiative represents a pivotal step towards bolstering the industrial landscape in Punjab and contributing to economic growth and job creation in the region. It signifies a substantial investment in the state's steel production capabilities, aligning with contemporary trends in sustainable and environmentally responsible industrial practices.