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Caparo eyes China, looks for more acquisitions globally

Caparo eyes China, looks for more acquisitions globally
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First Published: Mon, Nov 05 2007. 12 38 PM IST
Updated: Mon, Nov 05 2007. 12 38 PM IST
By PTI
Beijing: China is on the radar of NRI industrialist Lord Swraj Paul led Caparo Group, which is willing to “go to any extent” to invest in India as the opportunities open up.
“China is very much on our agenda. If an opportunity comes, our people would love to do so (make investment) in the automobile component sector,” chairman of the UK-based $1.5 billion (Rs5,898 crore) Caparo Group Lord Paul said in an interview.
Caparo, predominantly a steel products and engineering giant, already has a joint venture with a Chinese company and buys and sells industrial products in China. The Group also has an office in Shanghai.
“We certainly see more potential in China”, though the Group has no specific plans as of now, the London-based steel tycoon said.
On India-specific investment plans, he said the company had built 15 new plants in the last three years and 16 more under construction were expected to be operational by late 2009.
“But, we are still looking for more,” said Paul, adding, “if have the customers, we will go to any extent (to invest), mostly in the automobile components”.
He said as long as opportunities keep coming up in the automobile industry, “we will specialise on that”.
Asked if the diversified Caparo was open to widen the scope of investment to other areas, Lord Paul said, “We won’t close our eyes to any other opportunity. But, certainly, automobile still in our view has more expansion possibilities. We will stick to that”.
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First Published: Mon, Nov 05 2007. 12 38 PM IST