Through an Act of Parliament, the Union Cabinet chaired by the PM Modi has given its consent for setting up of IIPE at Visakhapatnam as “an Institute of national importance. The responsibility of mentoring the institute has been taken up by IIT Kharagpur.
Through an Act of Parliament, the Union Cabinet chaired by the PM Narendra Modi has given its consent for setting up of Indian Institute of Petroleum and Energy (IIPE) at Visakhapatnam in Andhra Pradesh as “an Institute of national importance. The responsibility of mentoring the institute has been taken up by IIT Kharagpur.
As per an NDTV report, the institute will have the governance structure as well as legal mandate to grant degrees in a manner similar to that enjoyed by IITs. A separate act will also impart the required status to the institute to become a “Centre of Excellence” in petroleum and energy studies.
Proceedings of the meeting
- 200 acres of land, free of cost, has been allocated by the Andhra Pradesh government for setting up of IIPE at Sabbavaram Mandal in the Visakhapatnam district
- IIPE has been registered as a Society under the AP Society Registration Act, 2001 on April 18, 2016
- The cabinet meeting has also approved Rs 655.46 crore as capital expenditure to set up IIPE and a contribution of Rs 200 crore towards its Endowment Fund (in addition to a contribution of Rs 200 crore from Oil Companies towards the Endowment Fund).
The decision to set up this institute was committed under the 13 Schedule of Andhra Pradesh Reorganization Act, 2014. The objective is to meet the quantitative and qualitative gap in the supply of skilled manpower for the petroleum sector and to promote research activities needed for the growth of the sector.
A temporary campus of IIPE has been set up from academic session 2016-17 from the Andhra University campus with two undergraduate programmes namely, Petroleum Engineering, and Chemical Engineering (with capacity of 50 students each).
.source”times of india”