Latest news with #LOIs
Time of India
14-06-2025
- Business
- Time of India
5 foreign universities awarded LOIs to start campuses in Navi Mumbai; fees 25% lower than overseas
Mumbai: Five foreign universities that were awarded letters of intent (LOIs) to set up full-fledged campuses in Navi Mumbai will offer courses at fees at least 25-30% lower than what students currently pay to study abroad, Maharashtra chief minister Devendra Fadnavis announced at an event on Saturday. The idea is to make foreign education both accessible and affordable to Indian students, he added. Union education minister Dharmendra Pradhan, who was also in Mumbai for the event, said including the five in Navi Mumbai, nine foreign universities have already been given permission to start operations in the country, and six more are in the pipeline. Two have already started offering their programmes in Gujarat's Gift City, he added. The University of Aberdeen (UK), the University of York (UK), the University of Western Australia, the Illinois Institute of Technology (US), and the Istituto Europeo di Design (Italy) were granted the LOIs under the National Education Policy (NEP) 2020, at the 'Mumbai Rising: Creating an International Education City' event held in Colaba on Saturday. Officials said the five universities in the Mumbai Metropolitan Region (MMR) have been given an 18-month window to start operations in the country and will enjoy full autonomy in deciding the programmes, the academic session, curriculum, fees, among other things. These will be open to international students as well. Fadnavis said the entry of the five foreign universities will launch the state's dream of making Mumbai and Maharashtra an international education hub. The idea is to host at least 10 leading international universities in the Education City, he said, adding talks are on with a few more universities. These foreign institutions will not only make global education affordable for Indian students, but also help in creating a global workforce, he said. Fadnavis added the state will only be facilitating the universities' plans to set up campuses but will not bear any financial responsibility. The foreign universities will not be following any constitutional reservations, and scholarship policies will be as per their individual policies, said the CM. Other state universities will be free to collaborate with these universities to offer joint programmes. For instance, said Fadnavis, Gondwana University in Gadchiroli, which is setting up a mining hub, has already collaborated with an Australian university and will be using their expertise in mining. The 250-acre EduCity, being developed by Cidco, is within a five-km radius of the Navi Mumbai International Airport, and this region will soon also be developed as a medicity, a sports city, and a yet-to-be-announced innovation city – a one-of-its-kind innovation ecosystem in the country. Pradhan said that NEP will allow global institutions to establish branches in India and Indian institutions to open campuses abroad. He spoke about Indian universities setting up campuses abroad, including IIT-Madras (in Zanzibar), IIT-Delhi (in Abu Dhabi), and IIM-Ahmedabad (in Dubai). The entry of foreign universities will accelerate India's progress in education and development, he added. Vineet Joshi, acting chairman of UGC, Cidco MD Vijay Singhal, were present at the event along with Consul Generals from respective countries and academic officials from the five foreign universities. Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
Indian Express
14-06-2025
- Business
- Indian Express
Five foreign universities awarded LOIs to set up campuses in Maharashtra's Educity
As five foreign universities were awarded Letters of Intent (LOIs) on Saturday to set up their campuses in Maharashtra's Educity — a 250-acre facility to come up near Navi Mumbai International Airport, Chief Minister Devendra Fadnavis announced that world-class global education will now become available to Indian students in the Mumbai Metropolitan Region (MMR). The CM was speaking at the 'Mumbai Rising: Creating an International Education City' event at Hotel Taj. The LOIs were awarded to the five foreign universities in the presence of Union Education Minister Dharmedra Pradhan and officials from the University Grants Commission (UGC), which has drawn up regulatory policy for Foreign Higher Educational Institutions wanting to set up campuses in India. Pradhan said nine foreign universities have already been given permission to set up campuses in various parts of the country. And six more are in the pipeline. 'While our criteria was that all these universities are among the top 500 global ranks, most of those approved are from among the top 100 global ranks. India is becoming a destination for education and all this is made possible due to the National Education Policy NEP 2020.' Fadnavis highlighted the state government's plan to turn Mumbai into a global education hub with Educity, which will be a global education destination with infrastructure planned for 10 world-class universities. Fadnavis said five more foreign universities are to set up campuses in Educity, but their names are yet to be finalised. He added, 'Biggest benefit of this is to many youngsters from India who are not able to accomplish their dream of studying abroad due to inaccessibility or unaffordability. But now that these universities are going to be in Mumbai, Indian students will be able to accomplish their dream of foreign education with a 23-30 per cent lower cost.' Stating that this education hub aims to contribute to the growing economy of the country by providing a global workforce, Fadnavis also announced plans of setting up an innovation city in the same vicinity, which will be dedicated to encouraging the research ecosystem. 'Existence of these global universities near the innovation city will foster collaborations between academic research and industry innovations, creating the next generation of tech and other sector innovators,' he said. Reiterating how world-class education will be affordable and accessible to Indian students with foreign universities setting up campuses in India, Pradhan said, 'The entry of foreign universities will accelerate India's progress in education and development.' All these universities will enjoy full autonomy in deciding the curriculum, fees, programmes, course content, faculty recruitment among others. The affirmative reservations applicable in other higher education institutions in India will not be applicable to these universities. It will be up to the universities and their policies on whether they want to provide any scholarships. 📌 University of Aberdeen (UK): One of the oldest universities in the UK, it becomes the first Scottish university to establish a campus in India 📌 University of Western Australia (Australia): Part of Australia's prestigious Group of Eight (Go8), it will offer undergraduate and postgraduate courses in high-demand STEM fields — science, engineering, and industrial sectors 📌 University of York (UK): A leading research-intensive institution and a member of the Russell Group. It will offer cutting-edge programs in Artificial Intelligence, cybersecurity, business, economics, and creative industries 📌 Illinois Institute of Technology (US): The first American university to independently award degrees from a campus in India. It will offer programs in computer science, engineering, and business 📌 Istituto Europeo di Design (Italy): One of Europe's premium design schools, it will offer globally benchmarked training in fashion, product design, and visual communication
Hindustan Times
02-06-2025
- Business
- Hindustan Times
14 years on, GMADA yet to hand over showrooms against acquired land
Even though the Greater Mohali Area Development Authority (GMADA) had acquired land for the IT City housing scheme at Aerocity in December 2011, around 300 landowners from seven villages, who had applied under the land pooling scheme, are still awaiting possession of their showrooms. Through the land pooling scheme, owners were to be provided with residential or commercial plots instead of monetary compensation in lieu of their land. The size of each showroom is 100 square yards. In contrast, GMADA had already given possession of residential plots in IT City in 2019. According to records, letters of intent (LOIs) were issued in 2013 for 100 square yards SCOs and booths, based on entitlement. The draw for allotment of commercial sites and booths to LOI holders was conducted in August 2021. However, more than three and a half years later, the original allottees have still not received allotment letters or possession of their sites, preventing them from constructing buildings and starting businesses to earn a livelihood. One allottee, Harpal Singh, said, 'GMADA had acquired the land more than a decade ago but has still not given us possession of the showrooms under the land pooling scheme, despite repeated requests.' He added, 'On the other hand, Manav Rachna School and companies such as Infosys and HDFC have already constructed their buildings and are running their operations. It is unclear why GMADA is delaying possession when the infrastructure at the site is already complete.' When contacted, a senior GMADA officer said, 'There are some issues related to services and the alignment of the choe (seasonal stream) passing through the area. We are hopeful that the matter will be resolved soon and possession will be handed over in the next few months.' Another landowner, Sajjan Singh of Chajumajra village, expressed his disappointment, stating, 'There is a lot of discontentment among allottees due to the non-issuance of allotment letters and possession. Many of our children are unemployed and our livelihood is at risk as our agricultural land was acquired way back in 2011. Although the draw for commercial plots was conducted and numbers allotted in 2021, possession has still not been given. Our children and family members are waiting to start their businesses to support the family.' The IT City spans 1,722 acres across Sectors 66-B, 82-A, 83-A and 101-A, adjacent to Airport Road. The first housing scheme in IT City was launched in February 2014, offering 325 residential plots at ₹23,500 per square yard. The second scheme was launched in July 2016 with 750 plots at ₹20,000 per square yard. The most recent one was launched in April 2018.
Business Wire
30-04-2025
- Business
- Business Wire
Venture Capricorn Closes Sell-Side Advisory of Swan Electric Plumbing Heating & Air with SEER Group
DALLAS--(BUSINESS WIRE)--Venture Capricorn has completed another successful sell-side transaction to The SEER Group (SEER) with the acquisition of Dallas-based Swan Electric Plumbing Heating & Air. (Swan), a leading provider of residential and commercial plumbing, HVAC, and electrical services throughout Dallas and the greater DFW area. Venture Capricorn has completed another successful sell-side transaction in Texas. The Swan team will continue to provide the high-quality service and expertise customers have come to expect in the greater Dallas area, while benefiting from SEER's industry-leading resources and support as they look to expand their Texas footprint. 'The SEER Group came in and cared and connected with our family- focused company culture,' said Scott Sarlay and Nicholas Riddell, Founders and Owners of Swan Electric Plumbing Heating & Air. Venture Capricorn served as the exclusive sell-side strategic advisor in this deal, 'VCap was the best partner we could hope for in the sell-side process qualifying the buyer universe,' said Sarlay. The VCap team's in-depth scope of work helped us prepare our historical accounting, inventory, and business history for the proper partner that matched our goals and culture. VCap worked with us on evaluating multiple interested parties, evaluating Letters of Intent, (LOIs) to get us the right deal. They worked day and night to help us land the right partner that aligns with our culture, focusing on our capabilities, roots, goals and family-focused company culture.' Swan has served the DFW and surrounding communities for nearly a decade, offering reliable Electrical, Plumbing, HVAC installation, maintenance and repair services for both residential and commercial clients. Swan was one of the largest privately held residential service providers in the area and plans to continue to serve this community for years to come. This deal reflects Venture Capricorn's unique combination of experience and commitment to representing top-tier Residential/ Commercial Service founders that have specific goals for their legacy and valuation expectations. About Swan: Swan was founded by Scott Sarlay and Nicholas Riddell in Sunnyvale, Texas. Swan quickly distinguished itself through its commitment to craftsmanship, innovation, and customer satisfaction, building a reputation as a trusted service provider in becoming one of the largest privately owned residential service companies in DFW. 'What began as a specialized plumbing and electrical services firm has evolved into a comprehensive solutions provider, offering tailored services across residential and light commercial markets. Today, our portfolio includes electrical maintenance, complex installations, plumbing, and HVAC solutions,' stated Riddell. About Venture Capricorn: Established and respected in its Texas roots, Venture Capricorn is a middle market investment bank based in Austin, Texas. We deliver extraordinary results to our clients that consistently surpass their value expectations. Venture Capricorn is connected with Strategic and PE buyers that can underwrite and close deals efficiently. Not all are created equal; our firm works closely with buyers that bring a unique combination of speed, certainty, deep industry knowledge and operational resources that make value-added partners. We are humbled and proud of our long-lasting connections between owners and qualified buyers.
