AM/NS India and governments sign agreement for INR 200 crore ITI upgrade project
AM/NS India and the central and Andhra Pradesh governments say they have signed an agreement to upgrade four ITIs in the Visakhapatnam cluster. The approved project investment is INR 200 crore; individual funding contributions remain undisclosed.
AM/NS India and the central and Andhra Pradesh governments say they have signed a shareholders' agreement to upgrade four government Industrial Training Institutes in the Visakhapatnam cluster under PM-SETU, with approved project investment of INR 200 crore.
A special purpose vehicle will manage the upgrades and operations. According to the announcement, AM/NS India will hold 51%, while the two governments will hold 24.5% each. Those ownership percentages do not establish how much each party will contribute to the project funding.
Government ITI (Old), Kancharapalem will serve as the hub, sharing facilities with Government ITI (Girls), Industrial Estate, Visakhapatnam, and the ITIs at Bobbili and Narsipatnam. AM/NS India will work with its technical and academic partner NAMTECH on equipment, updated courses, new trades and instructor training.
The signing follows an earlier approval. A Ministry of Skill Development and Entrepreneurship statement dated May 29 had already announced clearance of the cluster's Strategic Investment Plan as PM-SETU's first. That approval should not be presented as fresh October news.
The programme links institute management more closely to manufacturing employers. The practical test will be when upgraded facilities begin operating and whether training leads to apprenticeships and jobs, rather than the signing alone.
