Reliance to acquire 800 acre for varsity in Vadodara

Reliance Industries Limited is all set to acquire around 800 acre on the outskirts of Vadodara for its proposed university project.

It is learnt that the group has identified 800 acres of land in Jaspur, which is primarily agriculture land. "The government has agreed in-principle to allot the land to the group for its university. However, the final approval is still pending with the state Cabinet," sources close to the development told Business Standard.

Though the company officials have not arrived at the total value of the deal, sources said according to the norm, the state government offered up to 50 per cent subsidy on land meant for educational purposes.

Industry observers peg the value of the deal at around Rs 50 crore. It may be mentioned here that initially Reliance had planned to set up the university somewhere between Ahmedabad and Gandhinagar. However, it shelved the plan in the wake of higher land prices in these areas. It finally zeroed in on Vadodara.

The proposed university is expected to churn out 10,000 graduates every year. Apart from management and information technology, the university would offer multiple courses. "The world-class university will also have tie-ups with at least two reputed foreign universities," sources said.

The Ambanis had, in the past, set up two premier institutes in Gujarat "" Mudra Institute of Communications, Ahmedabad (MICA), and Dhirubhai Ambani Institute of Information and Communication Technology in Gandhinagar. When the Reliance empire was split, both the institutes went to younger brother Anil.

Gujarat despite being one of the most industrialised states in the country, lags in knowledge-based sectors due to shortage of skilled manpower.

Even the state government has announced setting up of many institutes and universities to generate skilled manpower.