Caparo to invest Rs 1,000 cr
NRI industrialist Swraj Paul-led Caparo India says it plans 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.Updated: Jan 11, 2008 03:01 IST
NRI industrialist Swraj Paul-led Caparo India on Thursday said it plans 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.
“We plan to rake in $ 500 million sales from the country by that time,” Caparo India CEO Angad Paul told reporters at the 9th Auto Expo here.
The company has already invested Rs 1,000 crore in the country toward setting up 22 manufacturing facilities, including in Pune, Chennai and Singur in West Bengal.
Paul said the company would review the investment figures 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 UK and US. India accounts for about $150 million. “In the future, we would like that all the three regions contribute equally to our revenues,” Paul said.
Asked about its planned compact car concept, he said the group is open to bringing it to the Indian market. The group is in the process of introducing a “city car” concept in Europe by year-end, where Caparo would provide the design and assembling services to carmakers. “We have a city car concept and are working on it. We would provide the basic design services for the car, which would target the mid-segment.”