Caparo's Singur facility to be ready in time: Swraj Paul

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Kolkata, Apr 7: The Singur facility of Caparo Engineering India Pvt Ltd (CEIPL) will be ready by the time Tata Motors is prepared with its Rs 1-lakh car project.

Lord Swraj Paul, chairman and founder of the €2-billion Caparo Group of the UK, said: "We will be ready by the time Tata Motors' project is ready. Because, we can not let them down."

The CEIPL facility at Singur will supply stampings to Tata Motors for its Rs 1-lakh car. According to sources, Caparo Group, a key vendor for Tata Motors' Nano project, is setting up the facility with an investment of Rs 120 crore. "Caparo has got orders for almost 10% of components to be used in Tata Motor's small car," Paul said.

Caparo India, which specialises in manufacturing of automotive stampings in steel and aluminium, supplies those to automobile manufacturers like Maruti Suzuki, General Motors, Honda Motors, Delphi Motors, Eicher Motors, Ford India and Hindustan Motors.

Caparo Engineering had acquired the sheet metal business of International Auto Ltd (IAL), one of the major suppliers of sheet metal auto components to Tata Motors and a flagship company of RSB Group, in January last year.

Paul, who is leading a delegation from the UK, was present at a press conference at the West Bengal Industrial Development Corp. Before that, he had almost a two-hour meeting with state commerce & industries Minister Nirupam Sen and Sudeep Bandyopadhyay, chairman of the standing committee of commerce & industries of the state legislative Assembly.

"Bengal has the third largest economic growth in the country. There is a genuine relationship between Britain and India. We can go back and safely tell our colleagues that Bengal is marching ahead," Paul said.