Shillong, Nov. 12: Meghalaya chief minister Mukul Sangma today laid the foundation stone of the Institute of Chartered Financial Analysts of India (ICFAI) University campus at Tura.

The university, sponsored by the ICFAI, a non-profit educational society established in 1984 with its headquarters in Hyderabad, has acquired 13 acres of land in Tura for establishing a permanent university campus.

The university is empowered by the University Grants Commission (UGC) to confer degrees.

After laying the foundation stone of the campus, Sangma said the university would be a centre for quality education for students from the state as well as those from outside.

“At present, 80 per cent of the youths in the state are unemployed. With institutes like ICFAI coming in, we hope that there will be a sea change in the education scenario in the state.

“Since the university will help to provide job-oriented education, I have lots of expectations from ICFAI in increasing the employability of our students,” he said.

Y.K. Bhushan, the vice-chancellor of ICFAI University in Meghalaya, thanked the government for allowing them to contribute to the development of the state through the university campus in Tura.

The first phase of construction of the campus will include around 50,000 square feet of academic and administrative buildings.

The university is now offering job-oriented academic programmes in management, information technology and hotel and tourism management at Tura and Shillong.

The University has 19 teaching staff in addition to visiting faculty to cater to the present needs of the students. Over 240 students have benefited from the programs so far.

“The University proposes to offer new programs in the area of engineering, education, information technology, allied health services, sciences and law. The University also hopes to establish another permanent campus in Shillong in the near future,” Bhushan said.

The contract has been awarded for the construction of the Tura campus and is expected to be complete within 12 months, he said.

He further said the students of Meghalaya and the rest of the Northeast will be given fee concession ranging from 20% to 25% compared to the fee charged from the students from other areas.