Monday, October 17, 2011

Jindal, his firm gift $2.5 million to University of Texas

Industrialist and Member of Parliament Naveen Jindal and his company Jindal Steel and Power Ltd. (JSPL) have gifted US$ 2.5 million (about Rs. 122.5 million) to his alma mater, University of Texas at Dallas, following which the university renamed its school of management after him. Jindal, a 1992 batch alumnus, gifted $200,000 from his personal fortune while JSPL gave $2.3 million, the company said in a statement.

The university had said last week that Jindal, along with two other alumni, “contributed a combined gift of $30 million, the largest alumni gift in the university’s history.” Asked about reports of Jindal and his firm making a gift of $20 million to the university, the company said they had only given $2.5 million.

The JSPL statement said both Jindal and the firm “will contribute in future too” as this “will support Indian students through creation of scholarships and fellowships”. Employees of JSPL and its associate firms would be eligible for executive programmes at the university, the statement said. “The company’s contribution has been approved by board of directors, given JSPL’s commitment to education,” it added.

Source: The Indian Express, October 17, 2011

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