Jogindra Group Announces ₹1,100 Crore Investment in Punjab's Steel and Renewable Energy Sectors
Jogindra Group to invest ₹1,100 crore in Punjab across steel and renewable energy sectors
Mint
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Jogindra Group plans to invest ₹1,100 crore in Punjab, India, focusing on steel manufacturing and renewable energy. This investment is expected to boost the group's turnover from ₹3,000 crore to ₹5,000 crore and create approximately 1,200 new jobs.
- 01Jogindra Group will invest ₹1,100 crore in Punjab's steel and renewable energy sectors.
- 02The investment includes ₹700 crore for steel operations and ₹400 crore for renewable energy.
- 03Projected turnover increase from ₹3,000 crore to ₹5,000 crore.
- 04Employment is expected to rise from 1,800 to 3,000 jobs.
- 05Renewable energy capacity will expand from 37 MW to 120 MW.
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The Jogindra Group, established in 1992 and primarily operating in northern India, is set to invest ₹1,100 crore in Punjab, focusing on the steel and renewable energy sectors. According to Sanjeev Arora, Punjab's Industries and Commerce Minister, the investment will allocate ₹700 crore towards steel operations through companies like Jogindra Castings and Vardhman Adarsh, and ₹400 crore for renewable energy projects under Jogindra Green India. This expansion is projected to increase the group's turnover from approximately ₹3,000 crore to ₹5,000 crore and create about 1,200 new jobs, raising total employment from 1,800 to 3,000. Additionally, the renewable energy capacity is expected to grow from 37 MW to 120 MW. The investment is anticipated to revitalize Mandi Gobindgarh, a traditional steel hub, and bolster Punjab's industrial base while supporting the transition to cleaner energy. The state government aims to attract further investments by enhancing the ease of doing business.
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This investment will create about 1,200 new jobs, significantly benefiting local employment and boosting the economy in Punjab.
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