Indian state of Orissa.
Anil Agarwal donates $1 billion to set up Vedanta University, Feb 16, 2006 Rediff India Abroad.
Indian Foundation Will Give $1-Billion to Create a Huge Research University, The Chronicle of Higher Education (needs subscription), July 20, 2006.
Vedanta Resources Plc, the London Stock Exchange listed company, has
submitted a proposal to the Orissa government to set up a world class
university in the state with an investment of $1 billion.
In the largest donation ever made to a single higher-education institution, a foundation created by an Indian tycoon has committed $1-billion to establish a large, multidisciplinary research university in the Indian state of Orissa.
Anil Agarwal, the chairman of Vedanta Resources, a metals and mining company in India, had said in February that he planned to finance an elite institution that would cater to more than 100,000 students. On Wednesday, he formally announced the $1-billion donation, to be given in phases. During a brief ceremony at the State Secretariat in Orissa, he signed a memorandum of understanding with the Orissa government.
The government has identified 8,000 acres of land for the campus and plans to pass specific legislation to give the university complete administrative autonomy, according to a written statement by Werner Kreuz, managing director of A.T. Kearney, Germany, the consulting firm that is handling the project.
As the university's enrollment grows past 100,000, it is also likely to absorb a substantial portion of the Indian students who might otherwise have been expected to pursue a higher education abroad. More than 80,000 Indian students came to the United States in 2004-5, representing the largest foreign contingent on American campuses, according to data reported last fall by the Institute of International Education. Substantial numbers of Indian students also study in Australia, Britain, and Canada.
Wikipedia also has information regarding this new university.