Bull Moose Tube, a subsidiary of the London-headquartered Caparo group owned by Indian-origin industrialist Lord Swraj Paul, has announced plans to build a 3,50,000 tonne per year high speed steel and sprinkler pipe mill in Texas.

The company plans to set up the plant at Sinton and it is expected to go into production by early 2023.

Caparo chairman Swraj Paul told PTI over phone from London that the proposed Texas plant would be its seventh in the US and the eighth in North America.

The plant will be set up in partnership with Germany-based SMS Group for design, automation and implementation of the mill.

"There is likely to be a USD 200-250 million investment in the plant," the 90-year-old UK-based entrepreneur said.

The formal announcement of the plant was made on June 4 and it coincided with the birthday of Swraj Paul''s son Angad Paul, who passed away in 2015 at 45 years of age. He ran Caparo industries from 1996 as its chief executive officer.

"The construction of the new plant is an excellent project for BMT (Bull Moose Tube), and is a tribute to my late son who was born June 4," Swraj Paul said.

He added that Angad Paul''s energy and enthusiasm will never be forgotten in taking forward Caparo''s business in North America.

"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," Swraj Paul said.

Typical applications for Bull Moose Tube include construction, transportation, fire protection, lawn and garden equipment, and many other engineering and household products.

Caparo, which has close to USD 1 billion turnover, has a strong presence in India as well where the group operates several companies as original equipment manfracturer to auto makers.

It was one of the many ancillary companies which had proposed to set up a plant at Singur in West Bengal in eastern India with the Tata Nano plant.

Swraj Paul said he continued to believe in the India growth story and will expand business in the future.

He said that his grandchildren spend considerable time in India too.

President and CEO 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 said.