Business · Companies · 1 hr ago

AM/NS India to lead Rs 440-crore revamp of nine ITIs

AM/NS India to lead Rs 440-crore revamp of nine ITIs

ArcelorMittal Nippon Steel India will lead a Rs 440-crore upgrade of nine government Industrial Training Institutes, or ITIs, in Gujarat and Andhra Pradesh.

The skill development ministry signed agreements covering five institutes in Surat and four in Visakhapatnam.

The project sets aside Rs 240 crore for Surat and Rs 200 crore for Visakhapatnam.

The company will hold a 51% stake in the entities managing the institutes, while the central and state governments will each hold 24.5%.

The upgrades are planned to add modern workshops and laboratories, introduce new trades and courses, and provide more practical training.

The work is part of PM-SETU, a Rs 60,000-crore programme to upgrade 1,000 government ITIs and strengthen five National Skill Training Institutes.

The agreements establish the arrangements for modernisation and operation, with the company carrying out the projects alongside New Age Makers' Institute of Technology.

Sources

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