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Caparo Group acquires 100 acres in Haryana

LONDON: Lord Swraj Paul’s U.K.-based Caparo Group has acquired 100 acres in Bawal, Haryana, for the development of six new engineering ventures for its Vehicle Products India division. The company already operates two stamping plants in the region through its joint venture with Maruti Suzuki.

In a statement here on Monday, the company, said the new venture, with the projected investment of Rs. 510 crore, would support the growth of the automotive components sector in the region and generate employ-ment. Angad Paul, CEO of Caparo plc., said, “The site will encompass sheet metal stamping facilities and will be complemented by our Tailor Welded Blanking factory, also situated in Bawal.

“Plans are in place to develop a Steel Service Centre offering value-added services such as cutting, blanking and slitting to suppliers with ‘just-in-time’ requirements and a steel tube plant will also be constructed to cater to the needs of the automotive and non automotive engineering industry”.

Sunil Pahilajani, Country Head for India, added that, “We also look forward to leveraging technology from the U.K. sister companies — Caparo Tube Components and Caparo AP Braking. Our aim is to develop a sophisticated braking system facility as well as a suspension system facility, which will provide local OEM’s (original equipment manufacturers) with endurance testing and simulation, a much needed resource”.

The statement said Caparo’s activities in India were focussed on the automotive components sector.

“Caparo India at present operates on 15 sites but expects to complete construction of a further 16 plants by the end of 2008,” the statement added.

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