Representatives of the Indo-Danish Tools Company, in Biharsharif on Tuesday, met with the District Magistrate Anand Kishore to discuss setting up of a state-of-the-art tool factory producing light and medium modern tools to be used in various engineering works, officials in Nalanda said.
The company plans to set up a similar unit in Chhapra district, it was learnt.
Besides the factory, the Indo-Danish joint venture also plans to set up a training center offering diploma courses in 1, 2, and 4-year in mechanical engineering, officials said.
Preferences will be given to local talents first before allowing admissions to interested candidates from other states, they said.
The training center itself is expected to cost Rs. 30 crore out of which the central government will fund about Rs. 9 crore.
Land for the factory and the training center will be provided by the state government which will also contribute in the construction of the building, hostels, and other amenities for the students.
Indo-Danish Tools Company already has five operating units in India including one in Jamshedpur.
Work on the factory is expected to begin in March 2007, it was learnt.