Mumbai: The Indian School of Business (ISB), is setting up a Rs 300 crore campus at Mohali in Punjab, its second campus in the country.
ISB on Wednesday signed a tripartite agreement with the government of Punjab, and four leading business groups, to set up a second campus at Knowledge City, Mohali, Punjab.
The formal agreement was signed in the presence of Punjab chief minister Parkash Singh Badal and the dean of ISB, M Rammohan Rao.
ISB has received support from major business groups like Max India Limited, Bharti Enterprises Limited, Hero Corporate Service Limited, and the Punj Lloyd Group.
Punjab government has allotted 70 acres of land for the ISB campus on a 99-year lease.
The founder-supporters of the ISB campus at Mohali have come forward with a contribution of Rs50 crore each. They will also extend support in the areas of placements, internships, programmes on campus and visiting faculty to the ISB campus at Mohali.
''ISB Mohali envisions to be another world class, premier, academic institution providing a post-graduate programme in management and short duration executive education programmes,' a press realese saoid.
ISB proposes to set up centres of excellence in healthcare management, public policy, manufacturing sciences and physical infrastructure management, for promoting research and providing additional specialisations in the post graduate programmes in these areas, the release said.
The first academic session at the ISB campus in Mohali is expected to commence in 2012. The Mohali campus proposes to have 280 seats in its post-graduate programme, and plans a participation of 750 professionals in its executive education programmes.
''I am grateful to the vision of chief minister Parkash Singh Badal and our founder supporters for making it possible for us to bring high quality education within the reach of more and more Indians,'' said ISB chairman Rajat Gupta, adding, the Mohali campus was another significant milestone in the ISB journey.
''We have endeavoured to always groom high quality talent for the country, and I am delighted that we now have the opportunity to groom talent for new growth sectors especially healthcare, manufacturing, infrastructure and public policy,'' added dean Mohan Rao.
The Punjab government is setting up a Knowledge City in Mohali, which will include an estimated Rs 300 crore campus for the Indian School of Business (ISB), two institutes for Science and Education and Nanotechnology, and a Biotechnology Incubator. The total project cost is pegged at Rs 1,200-1,300 crore, and is expected to be operational by 2012.