Caparo Engineering India eyes Rs4,000-cr turnover from India operations by 2011

Chennai: Lord Swraj Paul, UK-based business magnate and founder of the multinational Caparo Group said at a press meet here that Group company Caparo Engineering India earned Rs220 crore last year, and that it expected to touch a top line of Rs2,000 crore by 2009. He also said that Caparo Engineering India is looking at a turnover of Rs4,000 crore by 2011.

Lord Paul was in the city on the occasion of the inauguration of the company''s new industrial complex at Sriperumbudur near here, which was due to be inaugurated by Tamil Nadu chief minister, M Karunanidhi, later on in the day.

With an initial investment of Rs400 crore the facility is coming up on 120 acres of land and houses a stamping unit, R&D centre and tool room, an aluminium foundry and a forging unit. It will eventually employ 1,000 persons.

Lord Paul''s son and Caparo India chairman, Angad Paul, said "We expect a revenue of at least Rs1,000 crore from the facility by 2010".

"We have got customers in aerospace sector and the automotive sector. As the aerospace sector grows, they are recognising the need for having quality suppliers," he said, speaking about the opportunities for the company in that area.

Caparo is setting up another manufacturing facility with an investment of Rs300 crore at Oragadam, near the outskirts of the city. The unit will manufacture tubular parts, automotive braking systems and fasteners.