Japanese Aichi Steel collaborates with Ludhiana's Vardhman Steel to tap automotive sector

CHANDIGARH: Leveraging the recast investment climate in Punjab, leading Japanese steel manufacturer Aichi Steel has collaborated with Ludhiana based Vardhman Special Steels giving further impetus to the export, employment and steel manufacturing potential in the state.

The Aichi Steel, an affiliate of Japan’s Toyota Motor Corporation, would introduce cutting edge technology in the state through Vardhman besides improving quality of its products, reducing operational cost and bring process efficiencies.

An official spokesperson of Invest Punjab said that earlier to this development, deliberations between Punjab Chief Minister Captain Amarinder Singh and Ambassador of Japan to India Kenji Hiramatsu were taken place thrice at New Delhi and Chandigarh regarding industrial and investment scenario in Punjab. He said that this partnership was aimed at achieving sustainable growth with ‘make in Punjab’ vision of the Chief Minister.