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
"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