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UK NRI, Lord Swraj Paul of Caparo group to invest Rs four billion in India

New Delhi, Feb 15, 2005

Lord Swraj Paul-led Caparo group is planning to invest Rs 3-4 bn for setting up six automotive components manufacturing plants in India.
"At present we plan to invest Rs 3-4 bn in India for servicing our clients in the automotive market. We may increase the number of plants we will set up in India if we see more potential," Caparo Group's Chief Executive Officer and Paul's son Angad Paul said.

"India can be a quality manufacturing base for the world. Later we may start making engineering goods for the aerospace industry. Right now we are not ruling out any other sector that requires our engineering expertise," he said.

The plants will come up in Uttar Pradesh, Madhya Pradesh, Rajasthan and Haryana.

The 750 million dollar Caparo group, chaired by the London-based NRI industrialist, is setting up the new plants at Chipanki (Rajasthan), Bawal (Haryana), Greater Noida (UP) and at Indore where it already has a similar manufacturing unit.

The Bawal plant is a joint venture with India's leading car maker Maruti like the existing manufacturing unit at Gurgaon (Haryana).

For remaining two plants, the compnay is still scouting for sites, he said.

"Caparo Group's turnover in India will grow to Rs 11 bn in 2008 from Rs 1.2 bn at present," Lord Paul said at a lecture here hosted by PHDCCI Vice-President and Apeejay Satya Group President Sushma Berlia. PTI


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