Indian Institute of Management (IIM)- Visakhapatnam, which currently operates from a makeshift campus at Andhra University, is likely to move to its new campus by 2021.
The Andhra Pradesh government has allotted about 240 acres of land in Gambheeram area to set up its own campus and the boundary wall also has been constructed. According to the Director of IIM-Visakhapatnam Prof. M. Chandrasekhar, efforts are on to take possession of the land by this month end.
Speaking to The Hindu , he said that the DPR (Detailed Project Report) is ready and it is being studied by the Expenditure Finance Committee. IIM-V has been allotted ₹700 cores for capital expenditure and ₹500 crores for recurring expenditure. “If things fall in place as desired, then the architect and consultants should be finalising the design by this year end and the construction should begin by 2019 and end by 2021, when we intend to walk into our new campus,” said Prof. Chandrasekhar adding that “of the 240 acres about 100 acres can be immediately used for construction purpose and we would go step by step by first building the administration block, the academic block and then the hostels and other things.”
Second batch
The second batch will be passing out this summer from the institute, which is one among the seven new generation IIMs. As of now the intake per batch is around 60 and it may be increased to 100.
The Director said the goal is to have an intake of over 500. “The final goal is to be self-sufficient and numbers is one aspect that can give us self-sufficiency,” he said.
IIM-V is mentored by IIM Bangalore and to start with, the Andhra Bank Building of the Department of Commerce and Management, Andhra University, was converted into a state-of-the-art campus.
Appreciating the gesture from AU, Prof. Chadrasekhar said, “We are happy that AU, one among the oldest and prestigious universities in the country has extended the gesture when required, and when we leave, we will handover the renovated building, for its further use.”
IIM- V was set up by the Ministry of HRD, Government of India in 2015, as part of the promises made in the A.P. Reorganisation.
Published - March 02, 2018 12:11 am IST
