News/City Updates

Union Cabinet sanctions funds for IIM Visakhapatnam

To construct a permanent campus for IIM Visakhapatnam (IIM-V), the Union Cabinet has sanctioned a fund of Rs 445 crore on Wednesday.

240 acres for IIM Visakhapatnam in Gambheeram has been allocated by the state government earlier and the Union HRD Minister Smriti Irani has laid the foundation stone in 2015. An Expression of Interest (EoI) has been issued by the management recently to hire an architect to design the proposed state-of-the-art permanent campus. The campus would be established between two hills with a lake in the surroundings.

IIM-V director Prof M Chandrasekhar, while speaking to TOI, was quoted saying, “The RfP (request for proposal) will be likely issued by this month end. The architect selection process will be completed by December. The handpicked architect has to produce the master plan of the entire campus and detailed designs for the first phase construction.”

He also mentioned that the management is currently shortlisting the architectural firms for the permanent campus.

Recently, IIM Visakhapatnam (IIM-V) witnessed 42 companies participating in the institute’s final placement process. The students have been placed in reputed companies in different domains such as KPMG, Amul, HDFC

, ICICI, and Deloitte.

The management institute established in 2015 in Visakhapatnam, is currently under a transit campus in Andhra University.

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