NRI industrialist Lord Swraj Paul – lead British business conglomerate Caparo Group, plans to build an integrated commercial complex comprising a hotel, offices, retail outlets, and a food court, under a $340 million redevelopment project in St Louis. Caparo will also have a significant ownership stake in the project.
The environment cleanup work on the 14-acre project alone, will cost $340 million, and has been launched by the Lawrence Group, whose chief Steve Smith praised Paul for investing in the project.
Bull Moose CEO Michael Blatz said the new investment by Lord Paul represents their continued confidence in St Louis as well as their belief in the vision laid out by Steve Smith for the City Foundry development
The project is expected to generate nearly 900 jobs and trigger more development in nearby areas.
Caparo India, through its multiple businesses offers, including end-to-end solutions in design, development and manufacturing of automotive systems, assemblies, advanced composites, modules and components for automakers and engineering majors, has grown into a global entity with over 40 companies operating from over 60 sites worldwide.