At a function here West Bengal Chief Minister Mamata Banerjee announced that the new campus would be set up at Dow Hill at Kurseong and would be known as 'Himalayan Institute'.
She announced that the state government would give Rs 118 crore for another campus of the varsity coming up on a ten acre plot at Rajarhat in the city's fringes.
Banerjee also handed over a cheque of Rs 30 crore to the Presidency University authorities during her visit to the campus.