DU set to borrow for infrastructure expansion
Real Estate

DU set to borrow for infrastructure expansion

In addition to receiving approximately Rs 1.20 billion in central funds to implement the economically weaker section (EWS) quota, Delhi University will borrow approximately Rs 9.50 billion from the Higher Education Funding Agency (HEFA) for infrastructural expansion and other assets, including academic blocks in two areas, Roshanpura and Surajmal Vihar, the land for which has long been with DU.

The proposal passed in the building committee has been placed before the executive council meeting. According to the agenda document, “Under the EWS scheme, the university has been allotted Rs 1.20 billion for construction and creation of other infrastructure, whereas the cost of the four projects, as approved by the building committee, is much more than the sanctioned grant; as such it was necessary to prioritise the projects to be taken up under the EWS scheme.”

The finance committee then approved a loan proposal of Rs 10.45 billion from HEFA, and it was sent to the Union education ministry (MoE). The projects related to the EWS grant include the vertical extension of a multistorey science block, computer centre, stack halls at the central reference library and a new girls hostel.

Also Read
Ingka Centre to open city centres at Gurugram & Noida
Ports Minister inaugurates two STPs at Chennai Port


In addition to receiving approximately Rs 1.20 billion in central funds to implement the economically weaker section (EWS) quota, Delhi University will borrow approximately Rs 9.50 billion from the Higher Education Funding Agency (HEFA) for infrastructural expansion and other assets, including academic blocks in two areas, Roshanpura and Surajmal Vihar, the land for which has long been with DU. The proposal passed in the building committee has been placed before the executive council meeting. According to the agenda document, “Under the EWS scheme, the university has been allotted Rs 1.20 billion for construction and creation of other infrastructure, whereas the cost of the four projects, as approved by the building committee, is much more than the sanctioned grant; as such it was necessary to prioritise the projects to be taken up under the EWS scheme.” The finance committee then approved a loan proposal of Rs 10.45 billion from HEFA, and it was sent to the Union education ministry (MoE). The projects related to the EWS grant include the vertical extension of a multistorey science block, computer centre, stack halls at the central reference library and a new girls hostel. Also Read Ingka Centre to open city centres at Gurugram & NoidaPorts Minister inaugurates two STPs at Chennai Port

Next Story
Resources

LANXESS India Holds Solutions Day Showcasing Diverse Portfolio

Specialty chemicals company LANXESS India hosted its first exclusive Solutions Day event in Mumbai. The event brought together customers and other key stakeholders for a deep dive into the organisation’s diversified and sustainable product portfolio. LANXESS was represented by all its 9 business units – Advanced Industrial Intermediates, Flavors & Fragrances, Inorganic Pigments, Liquid Purification Technologies, Lubricant Additives Business, Material Protection Products, Polymer Additives, Rhein Chemie and Saltigo. Solutions Day was organised with the intent to highlight the conce..

Next Story
Resources

Cellecor Signs NDA with Shenzhen for High-Tech Manufacturing in India

Cellecor Gadgets Limited, one of India’s fastest-growing consumer electronics brands, has signed a strategic Non-Disclosure Agreement (NDA) with Shenzhen H&T Intelligent Control Co., Ltd and Shenzhen Jia Zha Geye Technology Co., Ltd. to set up a world-class manufacturing facility in India. The proposed facility will specialise in intelligent controllers, sensors, chips, semiconductor components, and integrated smart solutions to serve a wide spectrum of industries, ranging from consumer electronics and electric vehicles to smart homes, industrial automation, and next-generation chip..

Next Story
Infrastructure Energy

DPIL Wins ₹2.3 Billion Orders for Power Cables

Diamond Power Infrastructure Limited (DPIL) announced on Monday that it has secured two major orders worth over Rs 2.3 billion for the supply of power cables.The company received letters of intent from Rajesh Power Services Limited for a project under Dakshin Gujarat Vij Company Limited, valued at approximately Rs 1.51 billion, and from Adani Electricity Mumbai Limited, valued at around Rs 792.8 million.DPIL is recognised as India’s largest single-location manufacturer of power cables and conductors, and these contracts further strengthen its foothold in the country’s power infrastructure ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?