govt approves 5 projects with grant of rs 175 crore ...

by:kingtool aluminium machinery     2020-04-14
New Delhi: The government approved five projects today to provide capital cargo space of RS 175 for companies including HMT Machine Tool Co. , Ltd.
\"The government has approved five projects today to further enhance the competitive power of the capital goods sector in India and to drive the Prime Minister\'s\" Made in India \"campaign.
\"The government will provide funding of about Rs 175 from the Ministry of Heavy Industry\'s plan entitled\" improving the global competitive power of the Indian capital goods sector \", the official statement said.
The plan was launched in November 2014 with an expenditure of RS 975, of which the grant portion was RS 580.
The first project involved a joint venture between the center and the Government of Karnataka.
Under this, 500 acres of land was designated for the first of its kind integrated machine tool Park to be established near the Japanese park in Tumkur NMIZ.
The project cost of Rs 421 will be paid in part by the Indian government\'s support of Rs 125.
If fully implemented, it is expected that the park will double the turnover of Indian machine tools to Rs 9,000 while achieving matching savings in import/foreign exchange.
More than one lakh employment will be created in primary and secondary manufacturing as well as in business/administration.
The second project involves the establishment of an excellent welding technology center at the PSG technical college in Coimbatore.
Center of Excellence will support Indian manufacturers by demonstrating the latest technology developed by the home center
Manufacturing welding machine tools, consumables and local trained manpower
Complete the welding work required by the strategic department.
Excluding the total budget for land and construction (
Saint Germain by Paris)
It is estimated to be 26 rupees. 7 crore.
The government will provide 21 rupees. 10 crore.
The third approval granted to HMT Machine Tool Co. , Ltd. relates to the manufacture of lathe and turn-milling centers in cooperation with German M/s Fraunhofer.
\"Therefore, HMT will be able to provide modern machines for railways, defense, shipping, aviation and aerospace, etc.
1 rupee grant.
The company will receive Rs 54.
\"This will be the first step for the company to modernize its technology,\" the statement said . \".
The fourth proposal came from the HEC of Ranchi.
Based on the current approval, HEC works with Mr CNIITMASH
Russian Government Institute of Industrial Technology.
The proposal aims to provide 1,350 engineers with the latest technical training related to electroslag recovery within three years
Manufacture and non-melting, welding of gearbox
Destructive Test
The project size is expected to be Rs 50, of which the government is Rs 30 in part and will provide knowledge support to the Russian Institute to create four training centres.
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