Bull Moose Tube Company, part of Caparo Group owned by Indian-born British industrialist Lord Swraj Paul, will build one of the largest specialised pipe mills in the United States.
The company will set up a plant at Sinton, Texas, with an annual capacity of 350,000 tonnes a year. It is expected to go into production by early 2023.
Speaking to The Telegraph this afternoon, Lord Paul, chairman of Caparo, said the proposed Texas plant would be the seventh plant of Bull Moose Tube in the US and the eighth in North America. “There is likely to be a $200-250 million investment in the plant,” Lord Paul said.
The formal announcement of the Texan facility coincides with the birthday of Lord Paul’s son Angad who used to run Caparo from 1996. He passed away in 2015 in his forties.
“His energy and enthusiasm will never be forgotten in taking forward Caparo’s business in North America,” Lord Paul added.
Caparo, which has close to $1 billion turnover, has a strong presence in India as well where the group operates several companies as OEMs to auto makers. It employs 5,000 people in this country. It was one of the many ancillary companies which had proposed to set up a plant at Singur with the Tata Nano plant.
Lord Paul said he continued to believe in the India growth story and will expand business in the future. He informed that his grandchildren spend considerable time in India too.
