Spice Group to set up University

Updated on: Monday, September 13, 2010

The Spice group is foraying into the educational sector with plans to open up a global university at Modipur in Rampur district of Uttar Pradesh. It will be built on the site of the now defunct Modi Xerox factory and will be a part of the S Foundation.

The Group Chairman B K Modi said that the University will help propagate ‘holistic’ education. “The total cost of the project is estimated to be Rs 1000 crore, of which Rs 100 crore will initially be pumped in to kickstart the project. The University, we expect, will be complete by 2012,” he said.

On the issue of providing reservation to the children of local people in the university, Modi said, "We already have a school operating here from which brilliant results are showing up. I don't think there's a need to provide reservations to them. However, financial assistance in the form of scholarships will be provided to the deserving candidates.”

Prakash Nanani, group president at Spice Corp., who is in charge of the project said, "We feel there is a huge market in India in the education sector. In a country whose 50 percent population is below the age of 25, it makes a good business sense to foray into the education sector. We feel there is more scope in this market segment." The group is also planning to set up a Business Process Outsourcing (BPO) unit in Rampur which will start its operations in the next three months.

Spice Group to set up University

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