Land Allotted for IIM Sambalpur

Bhubaneswar (Reporters Today Bureau): The Odisha Government allotted additional land for setting up of permanent campus of IIM, Sambalpur. The State Cabinet meeting chaired by Chief Minister Naveen Patnaik decided to grant lease of 18.23 acres of land for establishment of permanent campus of IIM, Sambalpur free of premium and incidental charges.

Director, IIM, Indore and Mentor Director, IIM, Sambalpur will pay Rs 100 per acre per annum towards annual ground rent and cess of Rs 75 respectively.

The State exchequer would have to forgo around Rs 4.21 crore on non-recurring basis and an amount of Rs 6.67 lakh on recurring basis. Earlier, 181 acres were allotted to IIM, Sambalpur for its permanent campus.