Teamtech Formwork Solutions Partners with NAC-AP to Boost Construction Skill Development in Andhra Pradesh

Teamtech Formwork Solutions Partners with NAC-AP to Boost Construction Skill Development in Andhra Pradesh​

Teamtech Formwork Solutions Limited and the National Academy of Construction, Andhra Pradesh (NAC-AP), have signed a Memorandum of Understanding (MoU) focused on enhancing skill development, industry linkage, and providing employment opportunities for youth within the construction sector in Andhra Pradesh.

The collaboration is set to leverage expertise from both entities to improve vocational training standards across the state. NAC-AP was established by the Government of Andhra Pradesh in 1988 as a Society dedicated to promoting skill development in the construction sector. The academy operates Advanced Skill Training Institutes across various centers throughout the state. Teamtech Formwork Solutions Limited is engaged in manufacturing modular T formwork systems used widely in the construction industry.

The MoU outlines several critical areas of cooperation, establishing a framework for technological integration and specialized training. These include:

• Industry-Specific Labs: Teamtech may assist in creating industry specific laboratories at NAC-AP skill centers through engagement with anchor industries.
• Curriculum Support: While NAC-AP identifies relevant job roles and training courses, the Second Party (Teamtech) commits to providing technical inputs and guidance for curriculum design and customization based on current industry requirements.
• Training & Placement: The agreement covers assisting NAC-AP in conducting Training of Trainers (ToT) programs, where Teamtech can depute trainers, along with facilitating placement, apprenticeship programs, and industry exposure for trained candidates using its network.
• Assessment and OJT: Both Parties may support assessment processes and joint certification. Furthermore, Teamtech may facilitate On-Job Training (OJT) opportunities at project sites or industry locations where feasible.

The agreement also includes mechanisms for specialized knowledge transfer, allowing Teamtech to provide sector specific insights, industry reports, and inputs to assist NAC-AP in planning its skill development initiatives across the state.

It is noted that this MoU represents a broad intent of cooperation between the Parties and does not create any legally binding financial obligations. While no financial commitments are detailed within the agreement, it specifies that any expenditure incurred by Teamtech towards implementation activities such as training, OJT facilitation, and curriculum support will be treated as Corporate Social Responsibility (CSR) expenditure in accordance with statutory requirements.

TEAMTECH Stock Price Movement​

Today, shares of Teamtech Formwork Solutions Limited rallied sharply, closing at ₹78.95 after gaining 4.99%, marking a significant achievement as the stock hit its 52-week high. The performance saw robust trading, with volumes reaching 102,000 shares and the equity trading within an intraday range of ₹74.00 to ₹78.95.