Ludhiana, Jan 23: A major investment of ₹1,003.57 crore is headed to Ludhiana as AISRM Multimetals Private Limited prepares to build a massive special steel manufacturing unit. The facility will be located at Village Jaspallon and represents a significant expansion for the Arora Iron Group, which maintains an annual turnover of nearly ₹2,200 crore.
The new development is expected to provide a substantial lift to local employment by generating 920 jobs in the region. Spanning 46 acres, the factory will focus on producing high-quality alloy steel essential for various industrial sectors. The rollout of the project will occur in phases, with the first milestone of operational readiness set for the autumn of 2027.
Minister for Industries and Commerce Sanjeev Arora said the plant will use modern steelmaking processes, including Induction Furnaces and Argon Oxygen Decarburization, to meet the requirements of demanding industrial applications. The facility aims for an annual production capacity of 5.40 lakh metric tonnes.
“The project would further reinforce Ludhiana’s position as a major industrial and metallurgical hub of North India,” Sanjeev Arora said. He added that the state’s skilled workforce and logistical benefits make it an ideal location for such large-scale metallurgical operations.
The investment is viewed as a strategic fit for the automotive industry, which relies heavily on the type of special steel the Jaspallon plant will produce. This move aligns with the state’s ongoing efforts to enhance industrial growth and provide long-term economic stability.
Sanjeev Arora noted that the state is moving toward becoming a top choice for global and domestic investors. He credited the progress to the vision provided by the state leadership, stating that Punjab is on a path to becoming a leading investment destination under the guidance of Arvind Kejriwal and Chief Minister Bhagwant Singh Mann.
