IL&FS Tech to set up 100 skill schools with NSDC
Dec 01 2010 , Kolkata
This will be carried out through a Special Purpose Vehicle (SPV). According to NSDC officials in the know of things, the total NSDC contribution to the project would be Rs 159.78 crore by way of loan, grant and equity. While Rs 114.37 crore would be provided by way of a loan to meet working capital and capital expenditure requirements, NSDC would chip in with Rs 10.53 crore as its equity contribution to the special purpose vehicle. NSDC would give Rs 34.88 crore in the form of a grant to the SPV with IL &FS ETS for development of content.
As part of the arrangement, the skills schools that would be set up by the IL&FS — NSDC alliance would target sectors like textiles, construction, leather and leather products and the services sector.