NEW DELHI : A Rs 440-crore overhaul will put ArcelorMittal Nippon Steel India (AM/NS India) in charge of nine govt Industrial Training Institutes (ITIs) in Gujarat and Andhra. The company will hold a 51% stake in entities managing the institutes under PM-SETU.Skill development ministry Monday signed shareholders’ agreements covering five ITIs in Surat and four in Visakhapatnam. Rs 240 crore is earmarked for Surat and Rs 200 crore for Visakhapatnam. Centre and state govts will each hold 24.5% equity. SPVs will manage modernisation and operations. AM/NS India will implement the projects with New Age Makers’ Institute of Technology as partner. Plans include modern workshops and laboratories, new trades, revised courses and more practical training.PM-SETU has Rs 60,000-crore outlay and aims to upgrade 1,000 govt ITIs and strengthen five National Skill Training Institutes. Funding includes Rs 30,000 crore from Centre, Rs 20,000 crore from states and Rs 10,000 crore from industry.
