Mr. Angad Paul explained that Caparo’s new industrial park will house units for luxury buses, special vehicles and automobile components. It also plans to develop world-class social and other infrastructure facilities, including roads, power plants, housing units and hotels in the area.
In April, Caparo signed a technical agreement with Hyundai Motor Company of South Korea to manufacture fully assembled luxury buses in India. The plant, which is due to commence production in 2009, will be located in southern India. The buses produced will be engineered to provide higher durability, outstanding stability and ease during high-speed cruising. They will also be fitted with powerful and fuel-efficient Euro III/IV engines, air-wide suspension and ABS systems.
Hyundai Motor Company will provide technical support that will enable the partnership to meet all the Government regulations concerning supply and manufacture of commercial vehicles in India.
“The industrial park aims to bring further medium-sized auto component manufacturers to the State, and we want to create something that Caparo and India can be proud of”, Mr. Angad Paul said.
The park, which would be completed in phases with the first phase operational by 2010 is estimated to provide both direct and indirect employment to thousands of people. Caparo has acquired 2,000 acres for the industrial park, part of which will be earmarked as a Special Economic Zone. The site was selected because of its proximity to Chennai and Krishnapatnam ports.
