Click to play videoBhubaneswar: One of the biggest mining conglomerate, Vedanta Resources has signed a Memorandum of Understanding with the Orissa government to set up a University in the state which is going to be truly world class in terms of investment and expansion.
If the vision of this Vedanta University is realized then soon Orissa will be known not only for its rich mineral resources but also for its best human resources, say experts.
"We won't be making any profit from the investment in the University. This is purely to give back to the society what ever we could from the money we have earned," Anil Agarwal Chairman, Vedanta Resources said.
The University will be built at an estimated cost of Rs 15, 000 crore out of which Rs 5, 000 crores would come as a personal donation from Vedanta Resources Chairman Anil Agarwal.
"So far the investment was only for mineral resources but for the first time the investment will be for human resources," Orissa Chief Minister, Naveen Patnaik said.
With the Memorandum of Understanding signed between the Vedanta foundation and the Orissa Government on Wednesday, it is expected that the first phase of the construction would be complete by the end of July.
Spread over a vast 10, 000 acres of land near Konark, the University will be home to the world's biggest private educational institutions.
Notably, in the last two years the Orissa Government has signed more than 43 MoUs with various companies mostly in the steel sector, including industry giants POSCO and Mittal Steel.
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