Caparo Engineering plans huge investment in India

Jamshedpur, Jan 3(UNI) Caparo Engineering India Private Limited,a flagship company of Lord Swaraj Paul,has planned a total investment of Rs 1000 crore in India by 2009.

Chairman and Group CEO of the company Angad Paul told media persons here today that the company had already invested Rs 300 crore in the exisiting 17 units all over the country and most of them were sheet metal stampings units.

He said considering the recent boom in the automobile industries in India, the company would invest another 700 crore in the next two years.

Mr Paul said the company had registered a turnover of Rs 400 crore in the last fiscal in India while the figure was recored 6.5 thousand crore world wide. He said the turnover would be double in the next couple of years.

Mr Paul said Caparo Stampings,a division of Caparo Engineering,had acquired the stamping unit of International Auto Limited, situated here and Pune at cost of Rs 39 crore.

The company had also acquired 25 acres of land at Gamharia in the Adityapur Industrial area near here to set up units in near future, Mr Paul said.

He said the company would also kickstart five new units in Chennai in March this year.

Mr Paul said at present Tatas, Maruiti, Honda, Hyundai were the biggest customers of the company and he hoped to consolidate its tie with the Tatas after opening its new unit here.

UNI