Hero Cycles, the world’s largest cycle manufacturer has announced the launch of its new manufacturing plant in Bihar’s Bihta Logistics and Industrial Park. The new plan will expand the production capacity of Hero by a million units per annum.
The foundation for the new plant was presided over by Hero Cycles Chairman, O P Munjal and Co-chairman and Managing Director, Pankaj Munjal.
To be operational in 2014, the new plan will be Hero Cycle’s third production facility in the country and the first outside Punjab. “This plant is part of our strategy to not only expand production but also look for a manufacturing presence outside our traditional ground in Ludhiana. This new plant will add to our production capacity by a million and will produce for the region,” said O P Munjal.
Infact, for Hero, Bihar is one of the fastest growing market which sees a sales of nearly 200 bicycles everyday and from the remotest of locations. The new plant is being built at a project outlay of Rs 40 crore and is expected to produce largely for the eastern Indian market.
The company currently produces from its manufacturing plant in Ludhiana and by 2014 a second manufacturing plant is set to become operational in Mangli, Punjab.
- Hero Cycles to invest Rs. 200 cr in two new plants (thehindu.com)
- Hero Cycles plans to set up two new plants (thehindu.com)