Caparo expects Rs 4,000 cr turnover from India by 2011

Caparo expects Rs 4,000 cr turnover from India by 2011
PTI
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First Published: Thu, Oct 04 2007. 03 40 PM IST
Updated: Thu, Oct 04 2007. 03 40 PM IST
Chennai, 4 October Caparo Engineering India, a part of Lord Swraj Paul-owned Caparo Group, is looking at a turnover of Rs 4,000 crore from its Indian operations by 2011.
Addressing a press meet here today, Lord Swraj Paul said that last year the company had earned Rs 220 crore in India and is expected to touch a top line of Rs 2,000 crore by 2009.
Caparo’s new industrial complex at Sriperumbudur near here is to be inaugurated by Tamil Nadu Chief Minister M Karunanidhi later today. The facility is built on 120 acres of land at an initial investment of Rs 400 crore.
The facility houses a stamping unit, R&D centre and tool room, an aluminium foundry and a forging unit and will employ 1,000 persons. “We expect a revenue of at least Rs 1,000 crore from the facility by 2010,” Caparo India Chairman Angad Paul said.
Angad said Caparo was also keen to service the maritime sector. “We have got customers in aerospace sector and the automotive sector. As the aerospace sector grows, they are recognising the need for having quality suppliers,” he said, speaking about the opportunities for the company in that area.
Caparo is setting up another manufacturing facility at Oragadam, near the outskirts of the city with an investment of Rs 300 crore. The unit will manufacture tubular parts, automotive braking systems and fasteners.
The facility will be set up next to the automotive park being set up by Nissan, Renault and Mahindra and Mahindra.
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First Published: Thu, Oct 04 2007. 03 40 PM IST