Sonalika to invest Rs 500 crores in Hoshiarpur plant

Hoshiarpur/August 19
Sonalika International Tractors plans to enhance the capacity of tractor units at its Hoshiarpur plant by investing Rs.500 crores. In addition Rs.200 crores will also be invested in its equipment division to expand its production.
Sonalika group’s Vice chairman AS Mittal while announcing the investment in Hoshiarpur plant said that it was due to the conducive socio environment for the production in Punjab that they had decided to invest Rs 500 crore.
“By December next year, the production capacity at Hoshiarpur, Punjab will be doubled from present 75,000 units to 1.50 lakh units” Mittal said, adding that after the completion of expansion, Sonalika shell will become India’s largest integrated tractor plant under one roof.
“It’s becoming possible only due to Punjab’s most peaceful and the best industry pro atmosphere in the whole country,” Mittal said while recalling the fact that Chief Minister Parkash Singh Badal had himself laid down the foundation stone of Sonalika Tractors a decade ago.
Mittal said that Sonalika Tractors are also being exported to 65 countries around the world that includes most developed European countries, like Germany.
“The direct employment after the expansion by next December, shall be more than 5000 workers and engineers and about 10000 through Ancillaries and components suppliers of the state thus adding employment opportunities in the state,” he added.
The group employs presently more than 3000 direct workers and engineers and another 5000 through its Ancillary and component, he added.