The Memorandum of Agreement (MoA) between Tata Technologies Limited (TTL) and the Government of Tripura, based on the provided sources:
- Parties Involved: On November 20, 2024, Tata Technologies Limited (TTL) signed a Memorandum of Agreement (MoA) with the Department of Industries & Commerce, Government of Tripura.
- Project Objective: The MoA is for an ITI Upgrade project, aiming to upgrade 19 Industrial Training Institutes (ITIs) across Tripura.
- Project Scope: The project will be carried out in two phases, with the upgrades resulting in the introduction of 6 new long-term trades and 23 short-term courses.
- Government Support: As part of the initiative, the government will build 13,500 square feet of new infrastructure at each ITI to support the project.
- Project Duration: The MoA has a duration of 5 years and 9 months, with an option to extend it by an additional 5 years, which may include expanded scope and revised financial terms.
- Contract Value: The total contract value (TCV) of the project is INR 95.65 Crores (excluding GST), covering the upgrade, training, maintenance, and related services.
- Nature of the Contract: This is a domestic, deliverable-based contract, and there is no involvement of promoters or related parties in the MoA, making it a non-related party transaction.
The MoA represents a significant partnership between Tata Technologies Limited and the Government of Tripura, aiming to enhance technical education and skill development across the state through the upgrading of its ITIs.