Progressive Punjab Investors Summit 2026: On day 1, Lakshmi Mittal pledges Rs 2,600 cr investment, JSW Rs 3,000

Punjab government Thursday secured commitments worth more than Rs 10,000 crore on the opening day of the Progressive Punjab Investors Summit 2026 with the industrialist Lakshmi Niwas Mittal announcing that HPCL-Mittal Energy Limited (HMEL) will invest Rs 2,600 crore in the speciality and fine chemicals sector and JSW Group vowing expansion of its Rajpura plant at a cost of Rs 3,000 crore.

“We are moving forward in the speciality and fine chemicals sector for which we are announcing a new investment of Rs 2,600 crore, which will open new opportunities for the pharma and chemical sectors,” said Mittal.

Addressing gathering at the summit, inaugurated at Plaksha University in Mohali, he said the HMEL is also investing in green energy in Bathinda and will further increase its participation in renewable and sustainable energy in the future.

Mittal, who is also the executive chairman of ArcelorMittal, said HMEL will also enter the retail fuel sector and open 500 retail outlets across the country.

“The process has already begun, and Punjab’s first retail outlet will soon be set up in Bathinda.

The outlet will be equipped with advanced technology and AI-enabled systems,” he added.

Those present on the occasion included Chief MinisterBhagwant Mann, AAP national convenerArvind Kejriwaland industry giants from India, Japan and South Korea.

Referring to HMEL’s Guru Gobind Singh refinery in Bathinda, Mittal said Rs 60,000 crore has been invested so far, making it the state’s largest single-site investment.

“The project, which began in 2008 with a capacity of 9 million metric tonnes, has been expanded to 13.50 million MT over time,” he added.

The Bathinda refinery, he said, not only meets the energy requirement of Punjab but also caters to other states, including Himachal Pradesh, Haryana,Delhi, Uttar Pradesh, Delhi-NCR, Uttar Pradesh, Madhya Pradesh,Jammuand Kashmir and Uttarakhand.

Considering the rising demand for LPG in the country, the refinery trebled its production from 1,000 tonnes per day to 3,000 tonnes per day, he said.

Mittal further said that with the support of the Punjab government, a world-class petrochemical complex has been established producing approximately 1.2 million MT of polyethylene and 0.5 million MT of polypropylene annually.

“This has significantly contributed to the social and economic development of the Bathinda region,” he said, adding company has also set up a bio-ethanol plant, which produces around 10 crore litres of ethanol annually and contributes to India’s fuel blending programme.

Mittal said a large downstream industrial ecosystem can be developed around the refinery and petrochemical industry in Punjab.

“This ecosystem would create extensive opportunities for plastic processing, speciality chemicals, packaging, auto components, textiles and other manufacturing units,” he said, adding that he has spoken to Mann and Kejriwal in this regard.

He said the government has assured that a downstream industry complex will be developed over 1,500 acres in Bathinda.

He also suggested several measures to the government, including the development of dedicated industrial clusters and plug-and-play infrastructure for downstream industries, special focus on skill development for youth, and strengthening logistics and supply chains so that Punjab can emerge as a major manufacturing and export hub for North India.

Meanwhile, JSW Group chairman Sajjan Jindal announced that the company would expand its Rajpura plant with an additional investment of Rs 3,000 crore to enhance production capacity.

The group will be setting up a tin plates food packaging unit.

“We are working on building capacity.

This will be a 20 trillion Dollars economy next year.

We will grow multifold,” Jindal said.

JSW Group is also manufacturing amphibian vehicles at itsChandigarhbased unit.

“Our CEO Jaskirat Singh had approached CM Mann offering it for help during floods.

It was helpful in rescuinng children and civilians”.

TV Narendran, CMD and CEO ofTata Steelheaped praise on the Punjab government saying it has extended a lot of support in last two years.

“The kind of support we got here, we had not got it in any other state.

We had never thought we would be able to set up a plant inLudhianain two years.

Things worked well for us.

We feel welcome in Punjab,” he said.

“Punjab is not a new state for Tata.

We already had a huge market and customers in the state.

Ludhiana is the nucleus of the industry.

Now, we are working on clearer steel and on bringing down Carbon footprints,” he addded.

Tata has set up a unit with an investment of Rs 2,600 crore in Ludhiana.

It is the second biggest steel unit in the country.

Sunil Kant Munjal, chairman of Hero Enterprise, said Punjab’s new industrial policy was encouraging, but “we should remember that policy is a policy only; the entire system has to stand up be counted”.

He asked the government to work on depleting underground water table and soil conservation.

“We have massive drop in water table and we have to concentrate on disposing our agri waste.

The opportunities are immense.

Let us build Punjab,” he said.

Kanchan Vasdev is a Senior Assistant Editor in The Indian Express’ Punjab bureau.

She is a highly experienced journalist with 22 years of expertise covering high-stakes politics, governance, and social issues in Northern India.

Professional Background
Role: Primary reporter covering the Punjab Chief Minister’s Office (CMO), government policies, and the Aam Aadmi Party (AAP) leadership in the state.

Experience: She previously worked with The Tribune and has played a key role in launching various city editions.

Special Projects:
Abandoned Brides: Authored a monograph on brides abandoned by NRIs as part of the Prabha Dutt Memorial Fellowship.

Environment: Worked as a Centre for Science and Environment (CSE) fellow, focusing on the pollution levels in the Satluj river.

Recent Notable Articles (Late 2025)
Her recent reporting focuses on the legislative strategies and political maneuvers of the Bhagwant Mann-led Punjab government:
1.

Legislative & Governance Standoffs
"Punjab govt advances special Assembly session to pass resolution against VB-G RAM G Bill" (Dec 20, 2025): Reporting on the state's move to block the Centre's "Viksit Bharat" mission, which the state claims will undermine MGNREGA.

"Punjab govt doubles down on special sessions, sixth in January" (Dec 19, 2025): Detailing the AAP government's use of special sessions as a legislative tool amid tensions with the Governor.

"Punjab asks 'VIP teachers' working near Chandigarh to go back to border districts" (Dec 16, 2025): Reporting on CM Mann's move to end the practice of influential teachers avoiding postings in remote areas.

2.

Political Analysis & Rural Polls
"Punjab rural polls: Why Akalis are likened to dinosaurs in Punjab" (Dec 19, 2025): Analyzing CM Bhagwant Mann's rhetoric against the Shiromani Akali Dal (SAD) following local body elections.

"AAP claims win in 78% Punjab zila parishads as counting continues" (Dec 18, 2025): Breaking down the results of the 2025 rural elections.

"Rahul Gandhi and Sidhu alike, says Bhagwant Mann" (Dec 13, 2025): Covering the CM's critique of the Congress leadership.

3.

Law Enforcement & Bureaucracy
"Suspended Punjab IPS officer Ravjot Kaur Grewal awaits reinstatement" (Dec 10, 2025): Investigative reporting on the bureaucratic red tape involving the Election Commission and the state government.

"Punjab declines to give parole to Amritpal Singh" (Nov 27, 2025): Detailing the state government's refusal to grant parole to the radical preacher and sitting MP.

4.

Welfare & Economy
"Punjab government's plan to add more freebies to 'atta-dal' scheme hits funds roadblock" (Dec 4, 2024): An analysis of the fiscal challenges facing the state's flagship food security program.

"Mann leads Punjab delegation to Japan and South Korea for investor outreach" (Dec 2, 2025).

Signature Beat
Kanchan Vasdev is known for her insider access to Punjab's political executive.

Her writing provides deep insights into how state policies are formulated and the friction points between the state government and central authorities.

Her dual expertise in environment and law allows her to report on complex issues like the "Farmhouse Policy" (Dec 18, 2025) and river pollution with a unique policy-oriented lens.

X (Twitter): @kanchan99...

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