BRITISH Indian industrialist Lord Swraj Paul has announced plans to set up a 350,000 tonne per year high speed steel and sprinkler pipe mill in Texas.
The project will be carried out through his Caparo Group's US-based subsidiary, Bull Moose Tube (BMT), in partnership with Germany-based SMS Group for design, automation and implementation work.
The proposed plant will be set up in Sinton, Texas, and is expected to start production by early 2023. It will be Caparo’s seventh plant in the US and the eighth in north America.
"There is likely to be a $200million-250m (£142m-£177m) investment in the plant," said Lord Paul.
He made a formal announcement of the plant on June 4.
"I look forward to the future growth and success of BMT at our new Texas location and planning to be there for the ground-breaking, depending on the travel during (Covid) pandemic by that time," he said.
Applications for Bull Moose Tube include construction, transportation, fire protection, lawn and garden equipment, and many other engineering and household products.
In India, where Caparo operates several companies, Lord Paul expressed hope the business would expand.
President and chief executive officer of BMT, Tom Modrowski, said the new mill will be transformational and "will expand our geographic footprint and allow us to better serve customers not only in the Southwest, West Coast and Mexico markets, but across the entire business".
"Expanding our capacity, capabilities, and flexibility will increase BMT's market share in large HSS (high speed steel) sizes and ensure our continued and expanded leadership position in the sprinkler pipe market," he added.
