German engineering giant Siemens will invest Rs 1,200 crore to set up eleven Centers of Excellence in Gujarat, state's Finance Minister Saurabh Patel announced today.
"Recently, we have signed an MoU with Siemens to set up Centers of Excellence in six engineering colleges in Gujarat. Similar MoUs had been signed with them for five such colleges in the past. Siemens will spend Rs 119 crores while government will spend Rs 17 crore on each of these institutes. In total, they will spend Rs 1,200 crore on eleven engineering colleges," said Patel.
The announcement was made during the inauguration ceremony of Gujarat Power Research and Education Institute, an engineering college came up at Mevad village of Mehsana district at a cost of Rs 60 crore.
"This is Gujarat's first college that came up under Public Private Partnership (PPP) model," said an official press release.
Speaking on the occasion, state Roads and Buildings Minister Nitin Patel said that the Centers of Excellence will churn out 69,000 trained professionals in the field of auto industry, aero space, defence industry and ship building.
