New Delhi, Jan. 21: Swraj Paul-owned Caparo Group is setting up a Rs 120-crore plant at Singur to supply sheet metal and vehicle frames for the Nano. The Tata small car is scheduled to be launched later this year.

Group CEO Angad Paul said, “We are targeting to be a Rs 10,000-crore company over the next seven to 10 years”.

With the Rs 1-lakh car already unveiled, the component manufacturer will have to gear up to meet the Nano deadline, he said.

“We have to be ready before the Tatas are ready,” Paul said on the sidelines of a meeting between industry leaders and British Prime Minister Gordon Brown. The Caparo facility will supply 12 to 15 per cent of the Nano components.

On whether the Nano project will offer enough margin to component suppliers, Paul said if there was no profit, he “would not go into a project”.