Escalated cost of automobile testing centres approved

April 28th, 2011 - 6:48 pm ICT by IANS  

New Delhi, April 28 (IANS) The government Thursday approved an upward revision in the cost of setting up national automotive testing and research centres and the national institute of food technology and management.

The Cabinet Committee on Economic Affairs approved the revised cost estimate of Rs.2,288.06 crore for the National Automotive Testing and R&D; Infrastructure Project (NATRIP) in place of the originally approved cost estimate of Rs.1,718 crore, said an official statement.

The budget escalation of Rs.570.96 crore, includes Rs.427.29 crore by way of grant and Rs.142.77 crore as loan.

The NATRIP is a flagship project of the department of heavy industry and envisages upgradation of three existing automotive testing and research centres - Ahmednagar (Maharashtra), Automotive Research Association of India at Pune and International Centre for Automotive Technology at Manesar (Haryana) - and for setting up of four greenfield centres at Chennai, Indore (Madhya Pradesh), Silchar (Assam) and Rae Bareli (Uttar Pradesh).

Another institution, the National Institute of Food Technology, Entrepreneurship and Management (NIFTEM) at Kundli (Haryana) also got an increased outlay for setting up its infrastructure.

The committee approved the the new cost estimate at Rs.479.91 crore, along with a foreign exchange component of $8.1 million. The earlier estimate was Rs.244.60 crore.

NIFTEM will be a global centre of excellence integrating all aspects of food science, technology, entrepreneurship, research and management and will be the focal point for catalysing the growth of the food processing industries in India.

The institute will cater to the needs of various stake-holders such as entrepreneurs, industry and policy makers and will develop world-class managerial talent and entrepreneurship with advanced know-how in food science and technology and collect information on national and international market trends for food products.

Related Stories

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Business |