The Caparo Group, led by Lord Swraj Paul has officially inaugurated its new facility that would mainly be dedicated to stamping and welding of auto parts for Honda and for JCB. The facility is situated at Greater Noida and the company has said that it has already made an investment of Rs 40 crore in the phase one of the project. The company further informed that it was also going to invest another Rs 43 crore in the facility that has already started its operations.
The CEO of Caparo Plc and the Chairman of Caparo India, Mr. Angad Paul was talking about the launching of this new facility and said, "We are growing fast and very keen on continuously investing in India. We plan on doing at least a billion dollars of sales here in the next 7-10 years". He said that they are now expecting to be able to export a 10 per cent output of the facility in this year and the facility would be having an export of 30 per cent of its output within a period of two years.
The sources from the industry have informed that the Caparo Group is operating 19 plants across its businesses interests in stampings, aluminium castings, fasteners, tubes and steel forgings in India at the moment. The company is also planning to increase the number of plants to total of 28 in the future.
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| Posted : 1/22/2008 |
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