London, March, 08, 2007
Darshan Singh
NRI Lord Swaraj Paul's Caparo group (The Caparo
Vehicle Products India Pvt Ltd) signed a memorandum of understanding
(MoU) with Tamil Nadu government to invest $68 million in manufacturing
parts, composite materials, testing units, fasteners, tubular
and braking systems for vehicle and aerospace.
This manufacturing plant will be set up at Oragadam
in Kancheepuram district and will creat more than 2500 jobs. Capro
have this 3rd investment in the State. First auto component plant
at Sriperumbudur was established with the investment of $90 million.
Caparo group chief executive, Angad Paul told reporters
in Chennai, "Caparo India is also keen to enter the Indian
aerospace sector and we are trying to attract aerospace customers
by exporting to them. Our ultimate goal is to bring aeroplane
manufacturers to India."
