Rs 401.94 cr for IIM Sambalpur's permanent campus

BHUBANESWAR: The Union cabinet chaired by Prime Minister Narendra Modi has approved Rs 401.94 crore for the establishment and operationalization of permanent campus of Indian Institute of Management (IIM), Sambalpur.
The cabinet also approved fund for establishment and operationalization of permanent campuses of six other IIMs at Amritsar, Bodh Gaya, Nagpur, Sirmaur, Vishakhapatnam and Jammu.
According to the decision, each of these IIMs will construct an area of 60,384 square meter, which will have complete infrastructural facilities for 600 students in each IIM. "Recurring grants to these institute has also been approved at the rate of Rs 5 lakh per student per year for five years. Thereafter, the institutes are expected to meet their running cost or maintenance cost from the internal generation of funds," said an official release issued on Wednesday evening.
These institutes are presently functioning from temporary campuses. The statement revealed that the construction of permanent campus of these institutes will be completed by June, 2021.
Mahadeo Jaiswal, director of IIM Sambalpur, said the construction work of the institute's permanent campus at Basantpur on the outskirts of Sambalpur has not started yet due to a dispute over the land earmarked for the campus.
"The state government does not want to give the land on lease for 100 years, while the ministry of human resources development wants it for free. Because others states have provided free land for the national institute. But we hope the issue will be resolved and construction of the permanent campus will start soon," he added.
Mentored by IIM Indore, IIM Sambalpur came into exist in 2015. The present campus of the institute has been setup at Silicon Institute of Technology, Sason, in Sambalpur.