IIM-Tiruchirappalli’s plan for a new campus was cleared by the board of governors on Saturday.

Prafulla Agnihotri, Director, IIM-Trichy, told the media that the B-school’s plan for a new campus on a 172-acre site on the outskirts of Tiruchi was set to take off.

The first phase will entail an investment of ₹330 crore. This will see the academic blocks, residential bungalows, staff housing and hostels coming up. A 1,500-seater auditorium is also planned. The total investment for the project, to be funded by the Ministry of HRD, will be ₹550 crore. The first phase should be up and running in 15 months, said the director.

Around 400 students are expected to be accommodated on the new campus initially. A sports complex is also planned. The director said with the new campus in place the plan is to scale up student intake. The B-school, which has just seen its second convocation, functions now from the campus of the National Institute of Technology.

IIM-Trichy, said the director, had organised an international competition for selection of architects for the campus which was won by CnT Architects from Bangalore. The campus is expected to be a green and zero-waste one where water will be recycled for use in landscaping.

Smart classroom will offer facilities that integrate computer, multimedia and network technologies including interactive projectors, sound systems, video-conferencing, HD recorders and document cameras to stream lectures from off-campus locations.

Agnihotri said that while the final placements for the second-year students was on, IIM Trichy had a successful summer placement 2014 season. It hosted 45 recruiters, including organisations such as the World Bank, RBI, Cognizant, Dabur, Citibank and L&T, among many others.