Bhubaneswar: The Indian Institute of Management (IIM) Sambalpur was allotted additional land by the Odisha government to set up its permanent campus.
Chaired by Chief Minister Naveen Patnaik, the State Cabinet meeting took a call to grant lease of 18.23 acres of land for setting up of permanent campus of IIM Sambalpur. The land will be free of premium and incidental charges.
Director, IIM, Indore and Mentor Director, IIM, Sambalpur will need to pay Rs 100 per acre per annum towards annual ground rent and cess of Rs 75.
Rs 4.21 crore on a non-recurring basis and a sum of Rs 6.67 lakh would be forgone by the state exchequer on a recurring basis.
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