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

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.