Indian Institute of Petroleum and Energy at Vizag receives Cabinet nod

The Union Cabinet has given its approval for setting up of Indian Institute of Petroleum and Energy (IIPE) at Visakhapatnam in Andhra Pradesh as ‘an institute of national importance’ through an Act of Parliament. The institute will have the governance structure as well as legal mandate to grant degrees in a manner similar to that enjoyed by IITs. A separate Act will also impart the required status to the institute to become a ‘Centre of Excellence’ in petroleum and energy studies. 

The Cabinet has also approved Rs 655.46 crore as capital expenditure to set up IIPE and contribution of Rs 200