New Delhi, July 28 -- Punjab Chief Minister Bhagwant Singh Mann on Monday laid the foundation stone for a Rs.1,116 crore forging and machining plant being established by Vardhman Special Steels in collaboration with Japan's Aichi Steel, saying the investment reflects growing industry confidence in the state's manufacturing ecosystem and is expected to generate direct employment for over 500 people.

The chief minister said the investment proposal, initially planned at Rs.500 crore, was expanded to Rs.1,116 crore after the companies assessed Punjab's industrial environment. He added that a future expansion of the project could create jobs for another 2,000 people.

Speaking at the event, Mann said the project represents a shift towards hig...