ArcelorMittal Nippon Steel India (AM/NS India) has signed a Shareholders’ Agreement with the Union and Andhra Pradesh governments to upgrade four Government Industrial Training Institutes (ITIs) in the Visakhapatnam cluster under the Pradhan Mantri Skilling and Employability Transformation through Upgraded ITIs (PM-SETU) scheme.
A Special Purpose Vehicle will manage the upgrades. AM/NS India will hold 51% of the equity, and the Centre and the State government 24.5% each.
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