EducationBUILDApproved
Shareholders’ agreement signed to upgrade four government ITIs in Visakhapatnam cluster
Visakhapatnam, Andhra Pradesh12 Oct 2026
The Government of Andhra Pradesh, the Government of India and ArcelorMittal Nippon Steel India (AM/NS India) signed a shareholders’ agreement under PM-SETU to upgrade four government Industrial Training Institutes (ITIs) in the Visakhapatnam cluster with an investment of ₹200 crore. The agreement includes forming a special purpose vehicle (SPV) to manage upgrades and operations, with AM/NS India holding 51% and the two governments holding 24.5% each.
Why it matters
Upgrading ITI facilities and training (including instructor training and hands-on learning) is intended to improve job-ready skills and employability for students in the Visakhapatnam-region institutes.
Government of Andhra PradeshGovernment of IndiaArcelorMittal Nippon Steel India