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Punjab will see a greenfield investment of ₹1,003.57 crore from AISRM Multimetals Private Limited, part of the Arora Iron Group, to establish a steel manufacturing facility in Village Jaspallon, Ludhiana. The project covers 46 acres and aims to create over 920 jobs.

It will be executed in three phases, with operations expected to commence by September 2027. The facility will have an installed capacity of 5.40 lakh metric tonnes per annum (MTPA) and will produce Round Bars, Wire Rods, Coils, and Flats using scrap and ferro alloys.

The plant will operate on a triple-shift basis for approximately 350 days a year. It will utilize advanced steelmaking technologies, including Induction Furnaces and Electric Arc Furnaces, to produce high-quality alloy and special steel products, supporting the growing automobile sector. This investment aligns with the Punjab Government's goals for industrial growth and employment.