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Caparo to ramp up India operations

The Caparo Group, which is planning to add five more plants, will enhance the automobile industry here.

india Updated: Sep 27, 2006 19:07 IST
Press Trust of India
Press Trust of India

London-based steel major Caparo Group is aiming to ramp up its India operations so that it accounts for 10 per cent of the group's global production by 2010, by when it expects total turnover to reach almost two billion dollars.

"Our aim is that by 2010, we hope we can build in to almost 10 per cent of our world production in India from the present 2 to 3 per cent and by that time our turnover would be almost two billion dollars," Caparo founder-Chairman Lord Swraj Paul told reporters in Indore on Tuesday night.

The present turnover of the group is $1.5 bn, of which India's contribution is not even 2 to 3 per cent, he said on the sidelines of a CII seminar.

Caparo had, on September 25, inaugurated a fastener plant in Haryana - the group's seventh in India and plans to add five more plants soon. The Chopanki plant in Haryana would cater to the automobile sector.

Lord Paul said his company had decided to tailor its production for the automobile industry and was building plants in Pune and Jamshedpur too.

First Published: Sep 27, 2006 19:07 IST