As reported in The Times of India, Aichi Steel of Japan has agreed to enhance their tie-up with Vardhman Special Steels in Punjab, which involves an investment of ₹500 crore. This MoU has been inked in the presence of Punjab Chief Minister Bhagwant Mann in his 10-day trip to Japan and South Korea.
Aichi Steel, known as Toyota’s steel division, with a 24.9% stake in Vardhman, will commence a feasibility study for any manufacturing facility-related activity in relation to their proposed investment. Mann has also assured that government support would be given for further expansion of this company.
He also invited Aichi Steel to take part in the Progressive Punjab Investors’ Summit, which will take place in Mohali from March 13-15, 2026, as it would highlight industrial development along with major players from within and abroad. Mann believes that Japanese investors would also take a major part in this event since he himself has been leading a delegation to Japan and South Korea in order to meet investors.
(IRuniverse, Rohini)
