Most trusted Name in the NRI media
Serving over 22 millions NRIs worldwide


NRI Industrialist Lord Swraj, UK signed a MoU
with MP State for Rs 800 mn


London, Sept 26, 2005

In an effort to further expand its operation in India, NRI Industrialist Lord Swraj Paul's Caparo Group today signed a Memorandum of Understanding with the Madhya Pradesh Government for setting up new manufacturing facilities in Pithampur in the state at an estimated cost of Rs 800 mn.
Caparo has already invested Rs 300 mn in its sheet metal stamping unit in Pithampur, in MP and under the MOU, it would further expand its sheet metal stamping unit at a cost of Rs 250 mn.

Besides, it would invest Rs 240 mn in long member chassis unit, Rs 150 mn in iron foundry and forging and another Rs 150 mn for expansion of long member unit, in all providing additional employment for about 100 people.

The MOU was signed by Angad Paul, Chairman of Caparo Engineering India Private Ltd (CEIPL) and Raghav Chandra, Managing Director, Madhya Pradesh State Industrial Development Corporation in the presence of the Chief Minister Babulal Gaur and Caparo Chairman, Lord Swraj Paul.

CEIPL is a company 100 per cent owned and managed by Caparo Group of UK. The Caparo Group is a 1.3 billion dollar multinational conglomerate with main business of steel and metal conversion and has business in Europe, US and India.

CEIPL's main business in India is metal stamping for automob ile customers. It has state-of-the-art manufacturing facility at Pithampur and supplies to leading automobile companies like Eicher, Bajaj Tempo, General Motors, Delphi, Ford etc. pti


Any comments on this article or you have any news: Click here