Saturday, February 01, 2014

Funding Boost 1: IIT-Hyderabad Gets a Soft Loan of Rs. 1300 Crores

This week saw announcements about huge funding boosts at two institutions. I'm posting the first one here: IIT-Hyderabad to get Rs. 1,336-crore aid.

... The institute will get a whopping Rs. 1,336 crore to set up a permanent campus building at Kandi on the city outskirts and to procure of high-end research equipment.

The fledgling IIT will receive the amount as a part of the Japanese Official Development Assistance (JODA) loan through the Central government. ...

... The project will be executed by IIT-H, and the expected year of completion is 2018. It is the result of an understanding reached between the Prime Ministers of India and Japan for funding and sharing of technical knowledge.

Eminent professors from the University of Tokyo will be involved in the preparation of concept design and architectural plans for some important campus buildings. An additional technical cooperation project envisages enhanced academic, research and human exchange network, besides conduct of joint research under the Science and Technology Research Partnership for Sustainable Development (SATREPS).