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.

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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

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