Mukesh Ambani, chairman and managing director of Reliance Industries Ltd, will set up a new age world-class university in India.
The university will be set up under Reliance Foundation, the new philanthropic initiative of the Reliance Group, and will be modelled on the lines of American universities.
RIL will invest Rs 500 crore in the foundation with plans to scale up its contribution to Rs 1,000 crore.
"The university will promote education and research in all disciplines of knowledge -- from science and technology to liberal arts. It will also forge partnerships with reputed universities around the world and will be international in scale and in best practices," Ambani said.
Ambani was speaking at an award function where he was awarded the Dean's Medal from the University of Pennsylvania's School of Engineering and Applied Science. Ambani has won the recognition for his visionary leadership in the application of engineering and technology for the betterment of mankind, a media release from the university said.
Incidentally, 12 years ago, the Business School of the University of Pennsylvania had honoured Dhirubhai Ambani with the Dean's Medal.
