Mittal's Rs 18 cr gift to St Xavier'sEditorial Team526|0Last Updated:05:59 pm, October 19, 2011
Lakshmi Mittal, chairman & CEO of the ArcelorMittal group recently pledged to give over Rs 18 crore to his old school, St Xavier’s College in Kolkata.
The alumnus, who studied at St Xavier’s in the 1970s, said that the gift is his way of thanking the institute of making him the person he is today.
The amount is likely to be used to build a hostel for 500 students. Authorities said that the project would cost over Rs 18 crore.
It was learnt that Mital, one of the top 10 richest people in the world, has visited the college a couple of times over the past few years and indicated an interest in sponsoring a project.
A report in a national daily said that St Xavier’s College had been in touch with Mittal regarding a hostel for boys and girls. The current hostel can accommodate only 200 students and is housed in an old building. If the plan comes through, the old building will be demolished and two state-of-the art towers will be built in the same area. Plans and costs of the new hostels have been sent to Mittal for his approval.
The hostel will enable students from across the country to study at the institute, which is one of Kolkata’s premier places to study.
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