The Hindu : Business : Caparo Group plans more investment

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Friday, Jan 11, 2008
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Business

Caparo Group plans more investment

To set up
new units near
existing ones
Group mulls
‘City car’ concept
in Europe

NEW DELHI: Caparo India on Thursday said it planned to invest Rs. 1,000 crore in the Indian market over the next three years to become the largest automotive technology company in the country.

“The company will invest Rs. 1,000 crore over the next two to three years. We plan to rake in $500 million sales from the country (India) by then,” Caparo India CEO Angad Paul told reporters at the 9th Auto Expo here. The company has already invested Rs. 1,000 crore on setting up 22 manufacturing facilities, including Pune, Chennai and Singur in West Bengal.

Mr. Paul said the company would review the investment as and when required. The investment would be made in setting up manufacturing units near the existing ones in Chennai and Singur as also in expanding capacity at the Pune unit. A major portion of the $1.5-billion revenue of the Caparo Group comes from the U.K. and the U.S. India accounts for about $150 million. “In future, we would like that all the three regions contribute equally to our revenues,” Mr. Paul said.

On the planned compact car concept, he said the group was open to bringing it to the Indian market. The group was in the process of introducing a ‘city car’ concept in Europe by this year-end, where Caparo would provide the design and assembling services to carmakers.

“We have a city car concept with us and are working toward it. We would provide the basic design services for the car, which would target the mid-segment.” — PTI

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