Evening Standard on Anil Agarwal and Vedanta University
May 1st, 2008
Following is an excerpt from it.
Look at Agarwal. According to the list, the founder and chairman of Vedanta Resources owns shares worth £2.93bn. That valuation, says Beresford, was calculated last month. Since then, his stake in Vedanta has risen to £3.6bn. In a few weeks, on paper, he has made more than £500m.
… Agarwal is also committing £500m of his own money to build a new university – not in Britain, but in Orissa, also in India. Called Vedanta University it will cater for 100,000 students – undergraduates and graduates – plus 40,000 faculty and staff members. The intention is it will rival Stanford (it’s modelled on the Californian university) and will go some way towards slowing the brain drain from India to America.
‘What is money for, if not to be made and given back to society?’ says Agarwal.
Entry Filed under: Anil Agarwal,Bhubaneswar-Cuttack-Puri- Khurda area (1),Vedanta University, Puri