Japan will provide USD 174.8 million loan as development aid to the Indian Institute of Technology, Hyderabad (IIT-H) -the biggest foreign aid to an IIT.
The institute receive the loan in a phased manner. The Indian government will contribute 15% of the amount and the rest will be coming from JICA ( Japan International Cooperation Agency), which is to be repaid over 30 years.
The aid expected to contribute massively in improving the standard of higher education in the state and will help boost infrastructure.
With the financial aid, IIT-H will set up nine high-tech buildings, which includes a special technology centre, new academic blocks and a research park.
A part of the aid will be set aside to acquire lab equipment. The authorities plan to expand student intake from from existing 1000 plus to more than 7,500 by 2018.
Also, to beat the quality faculty crunch, the institute will increase the number of teachers to more than 750 by 2018, an increase from the over 100 teachers now.
Private companies will get a chance to use the R&D laboratories inside the campus.