Sonalika to expand Hoshiarpur plant with the investment of Rs. 500 Crore
Hoshiarpur: Breaking all the speculations about shifting of the Sonalika Tractor Plant from Hoshiarpur to some other state, the International Tractors Limited (Sonalika) have decided to invest Rs. 500 Cr. at Hoshiarpur plant to enhance the capacity of tractor units. In addition Rs.200 crores will also be invested in its equipment division to expand its production.
Vice Chairman, Sonalika Group Mr. AS Mittal thanked the conducive socio-environment for the production in Punjab. He said that till December next year they would double the capacity at Hoshiarpur (Punjab) from present 75000 to 1.5 lac unit tractors.
Mr. Mittal said that it have been becoming possible only due to Punjab’s most peaceful and the best industry pro atmosphere in the whole country. He further stated that Chief Minister Parkash Singh Badal had himself laid down the foundation stone of Sonalika Tractors a decade ago. The encouraging attitude and continuous support of Mr. Badal to this industry had kept them going.
He further said that growth oriented new industrial policy of Punjab Government have been a great inspiration not only for Sonalika Tractors but also for other industrial units in Punjab state. It is necessary to mention here that the deputy chief minister took special initiative to introduce Punjab made Sonalika Tractors to the state of Pakistan during his visit.