Speaking on the occasion, Chief Minister Raghuvar Das said 1.32 crore youths would be able of to get help from as the proposed university and academy.
Jharkhand's sportspersons have been making the state and country proud at the international level and bringing the two proposed sports project on the ground will be like their dreams come true, he said.
The projects will also help them to sharpen their skill under coaches of international standard, Das said.
While CCL General Manager J Tiwary signed on behalf of the PSU, Secretary of Art, Culture, sports and Youth affairs, Avinash Kumar, signed on behalf of the government.
Keeping these facts in view, Das said the government had requested the Union Energy Minister Piyush Goel to set up the sports academy and university to ensure that the sports infrastructure should be utilized as per the international standard.
The MoU was signed after getting positive response from the union minister.