The Gujarat government has given its nod to German company Siemens to set up six more centres of excellence in the state's engineering colleges with an investment of Rs 714.90 crore.
The Gujarat government has given its nod to German company Siemens to set up six more centres of excellence in the state's engineering colleges with an investment of Rs 714.90 crore.
Siemens has already invested about Rs 500 crore for setting up five such centres of excellence in the state for which MoUs had been signed two years back, state Finance Minister Saurabh Patel told PTI today.
With the availability of more funds, the Germany-based company approached the Gujarat government in August for approval of its request to set up of six more such centres in the engineering colleges of the state within the company's current fiscal year ending on September 30, which has been granted, he said.
These centres of excellence will be set up at colleges in Morbi, Rajkot, Bhavnagar, Patan, Jamnagar and Mehsana, he said.
These six centres will be in addition to the state government's already approved five centres of excellence under PPP mode with the co-operation of Siemens Industry Software (India) Pvt Ltd, Patel said.
"The main focus of these centres is to train students of different engineering institutes in-line with the latest industry needs and emerging trends. These centres will be instrumental in providing skilled manpower to the industries and employment opportunities to the youth," he added.
Siemens stock price
On October 14, 2014, Siemens closed at Rs 812.05, down Rs 9.1, or 1.11 percent. The 52-week high of the share was Rs 1010.00 and the 52-week low was Rs 496.05.
The company's trailing 12-month (TTM) EPS was at Rs 8.86 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 91.65. The latest book value of the company is Rs 113.17 per share. At current value, the price-to-book value of the company is 7.18.
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