Aichi Steel Signs MoU to Explore Rs 500 Crore Expansion in Punjab

Punjab’s chief minister pledged government support, including an invitation to the March 2026 investors’ summit.

Overview

The MoU with Vardhman Special Steels was signed in the presence of Chief Minister Bhagwant Mann during his Japan visit.
Aichi will run a feasibility study for potential factory operations in Punjab linked to a proposed investment of about Rs 500 crore.
The partnership prioritizes automotive-grade steel production using Aichi’s technical expertise with Vardhman’s manufacturing base.
Aichi already holds roughly 24.9% of Vardhman Special Steels, reflecting a pre-existing equity and technology link.
Punjab offered administrative facilitation and invited Aichi’s leadership to the Progressive Punjab Investors’ Summit on March 13–15, 2026, in Mohali.