New Delhi, Jan 23: Real estate firm Supertech Thursday said it’ll set up a university in Uttarakhand which will need an investment of Rs.750 crore in the first phase, expected to be completed by the end of 2015.

This is the primary venture of the real estate major within the education sector. The new university will be situated in Udham Singh Nagar district of Uttarakhand, 237 km from the capital Delhi.

Supertech chairman and director R.K. Arora said the company has acquired 50 acres of land on that the new institution will be situated.

“We have already acquired 50 acres. Our target is to get another 50 acres and have 100 acres campus,” Arora told.

He said the new university will be funded and managed by Supertech Foundation, a trust backed by the corporate.

“In the primary section, investment will be around Rs.700 to Rs.750 crore. this may be mostly in land and making infrastructure,” Arora said.

The new institution named Supertech University can provide graduate, post-graduate, doctorate and specialised courses during a large number of subjects, together with engineering and technology, law, management, fashion style, study, humanities, medical and social sciences.

The company has appointed V.P.S. Arora as decision maker of the new university. Before joining Supertech, he was vice chancellor of Nainital-based Kumaun University.

Arora said some short specialised courses can begin at the new university by the top of 2014.

“We can begin some courses by the top of this year. traditional courses can begin from the middle of 2015,” the newly-appointed decision maker said.

He said the university can attempt to give a balanced focus on capability building, consulting, education, innovation, analysis and talent development activities.

On collaborations with foreign institution, Mohit Arora, director of Supertech and one of the trustees of the inspiration under that the new university can operate, said nothing has been finalised however however Supertech would be keen to possess such tie-ups.

“We are trying to form a world category institution. are trying a part of our initiative to present back to the society,” Mohit Arora said.

According to Arora the university can begin with around 500-1,000 students next year and the number would go up to six,000 within the next 5 years.

He said the company has all the desired approvals from Uttarakhand government for setting up the new institution. As per the deal, at least 25 % seats in the university will be reserved for students from Uttarakhand.