Lord Swraj Paul, UK-based business magnate and founder of the multinational
Caparo Group said at a press meet here that Group company Caparo Engineering India
earned Rs220 crore last year, and that it expected to touch a top line of Rs2,000
crore by 2009. He also said that Caparo Engineering India is looking at a turnover
of Rs4,000 crore by 2011.
Paul was in the city on the occasion of the inauguration of the company''s new
industrial complex at Sriperumbudur near here, which was due to be inaugurated
by Tamil Nadu chief minister, M Karunanidhi, later on in the day.
an initial investment of Rs400 crore the facility is coming up on 120 acres of
land and houses a stamping unit, R&D centre and tool room, an aluminium foundry
and a forging unit. It will eventually employ 1,000 persons.
Paul''s son and Caparo India chairman, Angad Paul, said "We expect a revenue
of at least Rs1,000 crore from the facility by 2010".
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.
is setting up another manufacturing facility with an investment of Rs300 crore
at Oragadam, near the outskirts of the city. The unit will manufacture tubular
parts, automotive braking systems and fasteners.