Financial Daily from THE HINDU group of publications
Tuesday, Apr 25, 2006
Financial Daily from THE HINDU group of publications Tuesday, Apr 25, 2006 |
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Industry & Economy
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Education States - Tamil Nadu Rs 100-cr IIT `research park' on the cards Our Bureau
TIE-UP: The IIT Madras Director, Prof. M.S. Ananth (centre), and the BHEL Executive Director, Dr V. Gopalakrishnan, exchanging documents after the signing of a memorandum of understanding in Chennai on Monday. The Academic Research Dean, Mr S. Narayanan, is also seen. — Shaju John
Chennai , April 24 The Indian Institute of Technology, Madras, is working on a Rs 100-crore project to create a `Research Park.' The State Government has allotted 6.5 acres in Chennai (near Tidel Park), where a special purpose company started by the IIT will put up a 1-million sq. ft building. Prof. M.S. Ananth, Director, IIT-M, disclosed this to presspersons here. Asked how the cost would be met, Prof Ananth said that the Ministry of Human Resources Development would chip in with some funds. There could be some bank borrowings. But bulk of the resources would come from companies that would set up research facilities there. He said that such research parks were common in the developed countries. Later, he told Business Line that IIT-M earned Rs 40 crore from consultancy and sponsored research activities last year, compared to Rs 33 crore in the previous year. He said that the IIT received Rs 90 crore from the Government of India, of which about Rs 70 crore went towards salaries and maintenance of the estate.
More Stories on : Education | Infrastructure | Research & Development | Tamil Nadu
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