Diversified business house JK Organisation will invest up to Rs 400 crore over the next five years to set up a university in Jaipur that will offer courses such as MBA, BTech, MTech and LLB.
The proposed university by the National Capital-based group will start offering courses in Business Administration and Engineering streams from the next academic session.
"We will begin in 2011 with the Institute of Management and Institute of Technology. We plan to add more faculties or streams such as Law, Pharmacy, Applied Sciences, Languages and Communications and Journalism in the next 4-5 years," JK Organisation Director Bharat Hari Singhania told PTI.
He said the JK Lakshmipat University (JKLU) has signed an MoU with Han Yang University, Seoul for cooperation in the field of education and academic activities of mutual benefit.
"We are also in dialogue with a few renowned universities in US, Canada and Europe for cooperation in development of faculties, students exchange and research," Singhania said.
When asked about the investment that the group has made in this venture, he said the group will be putting about Rs 100 crore by the start of the academic session next year.
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"Investments will grow gradually when we will add more subjects and the facilities will be expanded. In the final shape, the university may have an investment any where between Rs 300 crore and Rs 400 crore in the next five years," Singhania said.
He said that the 30-acre campus, which will have both residential and day-scholar options, will finally be having a student strength of about 5,000 over the next five years.
Asked if there will be any reservation for economically weaker sections of society, Singhania said: "Yes, there are two sets of scholarships. One for meritorious students and other for the students of weaker sections, whose parental income is up to Rs 3 lakh per annum."
The group currently runs about 40 schools, colleges and other educational institutes across the country.
JK Organisation's business interests span a vast spectrum of industries including automotive tyres, cement, paper, power transmission systems, textiles, sugar, cosmetics and food and dairy products. The group's other activities include clinical research and software development.