This story is from March 8, 2007

Caparo to set up new facility in Tamil Nadu

SWATI DAS / TNN / Mar 8, 2007, 23:26 IST

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The Caparo Group added one more investment in its TN list, with the signing of a MoU between its Caparo Vehicle Products and the state government.

Caparo to set up new facility in Tamil Nadu

CHENNAI: The Caparo Group of the Lord Swaraj Paul family added one more investment in its Tamil Nadu list, with the signing of a memorandum of understanding between its Caparo Vehicle Products India and the state government to set up a manufacturing facility with an initial investment of Rs 300 crore on Thursday.
With this facility on a 100-acre land in Oragadam near Chennai, Caparo would don the role of an engineering solutions provider to the automotive industry.The facilities include production of composite materials, fasteners, and tubular products for automotive and aerospace and automotive braking systems. The project aims to provide employment for 2000 persons.
"We are looking at bringing all vehicle technology that we have to in Tamil Nadu,"said Capro CEO Angad Paul talking to the media after signing the MoU with Industries Secretary Saktikanta Das, in the presence of CM M Karunanidhi. He said the company would focus on sub-assemblies and systems for automotive industry.
The group's earlier Rs 400 crore facility in Sriperumbudur is expected to go into commercial production next month. This facility set up on 120-acre land in August 2006, hosts the aluminum foundry, die casting unit, steel forge unit, automotive stamping plant and a research and development centre.

Paul said the Oragadam facility would take a year's time to go on production. It would cater to aerospace engineering, where advanced composite facility for production large composite components. These would include jet engines and act as franchisee for Rolls Royce components.
"We are a service company and the process of building here will be dependent on our customers. As our customer require more from us, we will make our investments accordingly,"Paul said.
The group is expecting the aerospace business equal the automotive turnover in 10-15 years time, when India could become the hub for aerospace engineering, he added.

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