The Hindu Business Line : Educomp, Ansal in alliance to set up schools

New Delhi, Feb 18 Aimed at addressing the twin needs of capacity building and improving quality in education, Educomp Solutions, an education service provider, has joined hands with real estate developer Ansal Properties and Infrastructure to set up schools in 16 integrated townships, with an investment of about Rs 250 crore over the next three years.

Under the agreement, Knowledge Tree Infrastructure Ltd, an Ansal API-subsidiary, will construct the schools, while Educomp subsidiary Eduinfra Pvt Ltd will tie up with independent trusts to operate and manage the schools. The lease will be for 30 years, further extendable by the same period.

“Ansal API has 16 integrated townships and all these have areas meant for development of schools and colleges. We will set up 15-17 schools in our townships at an investment Rs 15-20 crore per school. The proposed schools will come up in the next 3-4 years,” Ansal API Vice-Chairman and Managing, Mr Pranav Ansal, told newspersons here.

“Educomp has picked up five per cent stake in the venture through its subsidiary Educomp Infrastructure Pvt Ltd. The company will further tie up with various independent trusts to operate the schools. The revenue sharing arrangement is yet to be disclosed,” Mr Shantanu Prakash, Managing Director Educomp Solutions, said.

He said the company will be investing around Rs 750 crore by 2010 to set up 100 schools across the country. “There is a crying need for quality education in tier 2 and tier 3 cities. We will be entering those places,” he said.