Caparo acquires 100 acres in Haryana
Caparo group has acquired 100 acres in Haryana for its engineering ventures in India.
By PTI |
LONDON: Making further forays into India, NRI industrialist Lord Swraj Paul-founded Caparo group has acquired 100 acres at Bawal in Haryana for development of six new engineering ventures for its vehicle products India division.
The company already operates two stamping plants in the region through a JV with Maruti Suzuki. The total projected investment of the six new ventures is Rs 510 crore with anticipated sales of Rs 850 crore and employment for 2,000.
Caparo India currently operates at 15 sites in India but expects to complete construction of a further 16 plants by the end of next year. The new land, situated 70 kms from Gurgaon, has been allocated through the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) and is required following accelerated growth and increasing demand from customers in northern India and new markets such as aerospace, CEO of Caparo Angad Paul said.
The company already operates two stamping plants in the region through a JV with Maruti Suzuki. The total projected investment of the six new ventures is Rs 510 crore with anticipated sales of Rs 850 crore and employment for 2,000.
Caparo India currently operates at 15 sites in India but expects to complete construction of a further 16 plants by the end of next year. The new land, situated 70 kms from Gurgaon, has been allocated through the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) and is required following accelerated growth and increasing demand from customers in northern India and new markets such as aerospace, CEO of Caparo Angad Paul said.
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