What happened to the Vedanta University project that Vedanta Resources Chairman Anil Agarwal had announced with great fanfare in mid-2006? The plan envisaged an outlay of Rs 15,000 crore to set up the 8,000 acre university, on the picturesque Konark-Puri Marine Drive in Orissa, that would focus on subjects like liberal arts, basic sciences, medicine, law and business. Agarwal even announced that the university was expecting to enroll students from 2008. But, says Vedanta University CEO, C.V. Krishnan, there has been a delay in the project. “This is mainly due to problems in the land acquisition process and some resistance created by interests not core to the area,” he says. “We will spend up to Rs 200 crore right now on land and initial expenditure.” The project cost has been pared down to Rs 4,000 crore that will be spent over the next 2-3 years. The university expects to start functioning by mid-2009.
— Krishna Gopalan