Visakhapatnam, The Andhra Pradesh government, the Centre and AM/NS India on Monday signed a shareholders' agreement to upgrade four ITIs in the Visakhapatnam cluster at an investment of ₹200 crore.
ArcelorMittal Nippon Steel India is a 50:50 joint venture between ArcelorMittal and Nippon Steel.
The upgrade will be carried out under the Pradhan Mantri Skilling and Employability Transformation through upgraded ITIs scheme, a press release said.
The National Steering Committee of PM-SETU approved the Visakhapatnam cluster's strategic investment plan, the first such approval in the country, the release said.
A dedicated special purpose vehicle will be set up to manage the upgrades and operations.
ArcelorMittal Nippon Steel India will hold a 51 per cent stake in the SPV, while the Andhra Pradesh government and the Centre will hold 24.5 per cent each.
Andhra Pradesh IT Minister Nara Lokesh said the partnership would equip students at the four Industrial Training Institutes with industry-relevant practical skills.
"Our priority is to ensure that Andhra Pradesh's industrial growth creates opportunities for our young people. This partnership with AM/NS India will help students at four Government ITIs gain practical skills that employers need," he said.
By upgrading training facilities and integrating industry expertise into technical education, the initiative aims to improve students' employability and enable them to contribute to the state's growth, Lokesh added.
Government ITI in Kancharapalem will serve as the main training centre and share its facilities and resources with the other three institutes-Government ITI at the Industrial Estate in Visakhapatnam, Government ITI in Bobbili and Government ITI in Narsipatnam.
The upgrades will cover modern training facilities, industry-relevant equipment, updated courses, new trades, hands-on practical training and enhanced instructor training.
Closer alignment between training and industry requirements is expected to improve students' job readiness and help employers recruit skilled local candidates as Andhra Pradesh expands its industrial and manufacturing base, the release said.
Ashutosh Telang, director and vice-president of HR and Administration at AM/NS India, said the partnership would bring the company's manufacturing experience and NAMTECH's technical education expertise to the four government ITIs.
"Through this partnership, we will bring our manufacturing experience and NAMTECH's technical education expertise to four Government ITIs in the Visakhapatnam cluster," he said.
Improved facilities, practical learning and enhanced instructor training would help students develop skills required by employers, he added.
PM-SETU, a Centre-sponsored scheme with an outlay of ₹60,000 crore, aims to upgrade 1,000 government ITIs through industry partnerships and strengthen five National Skill Training Institutes, the release said.
It seeks to improve vocational education through modernised infrastructure, industry participation and training in emerging technologies.
This article was generated from an automated news agency feed without modifications to text.