Caparo setting up Rs 300-cr facility in Chennai

Work on the consolidated engineering complex in Sriperumbudur begins

UK-based Caparo Group plans to invest Rs 300 crore to set up a consolidated engineering complex, which will include four projects, on a 125-acre plot in Sriperumbudur, 44 km from here.

The construction work on the project started a couple of days back.

The proposed complex will include state-of-the-art facilities for stamping, research and development, aluminium die casting, forging and a tool room. The complex is expected to be operational by next year.

Addressing mediapersons after a meeting Tamil Nadu chief minister M Karunanidhi, Angad Paul, chairman of the Caparo Group, said that the group was building the facility on the back of its customer base in India and would bring all its competencies together to offer products and services under one place.

Besides exporting a portion of the products, this auto component manufacturing facility is expected to cater to its customers in India.

He expressed the confidence that the proposed facility would become a catalyst to attract more global vehicle manufacturers to India by supplying quality equipment to build vehicles that could be used in any part of the world.

He added that the facility would be on par with international standards and premium tool manufacturing and die casting would be done out of the facility. The research and development facility at the complex would sell company's know-how to vehicle manufacturers in the world.

Besides the presence of vehicle manufacturers, availability of engineers and the presence of a number of engineering colleges were also key reasons for choosing Chennai for the facility, according to Paul.

The facility will hire 1,000 people for its manufacturing operations and another 1000 for its research and development and engineering design activities based on the demand.

According to a company report, the group is also planning to build a world-class convention centre and a college of engineering excellence in Chennai in future.

Caparo, founded by Swaraj Paul in 1968, is managed and wholly-owned by the Paul family. The group already has two entities in India "� Caparo Maruti Ltd - a joint venture with Maruti Udyog and Caparo Engineering Pvt Ltd.