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NT Bureau
Chennai, Mar 8:
 

Chief Minister M Karunanidhi after signing an MoU with Caparo Group today.

        Caparo Group, which is engaged in composite materials and testing, fasteners, tubular products for automotive and aerospace and automotive braking systems, today entered into a memorandum of understanding (MoU) with Tamilnadu government.

        Angad Paul, chief executive of Caparo Group and the younger son of Swraj Paul, founder of the group, signed the MoU in the presence of Chief Minister M Karunanidhi. Secretary to government, Industries Department, Shaktikanta Das signed the agreement from the government side.

        Caparo Engineering India Private Limited had earlier taken possession of 120 acres of land near Sriperumbudur for setting up of the projects - stamping, world class R&D centre and tool room, aluminium foundry and forging - with an investment of approximately Rs 400 crore.

        The signing of the pact and setting up of Caparo facility would provide employment opportunities to around 2,000 persons (850 direct and 1,150 indirectly).