Green University of NSBM to open in 2014

Vishmi Wijeratne

National School of Business Management (NSBM), has invested Rs. 7.2 billion for the first ‘Green University Town’ in Sri Lanka.

“The National Institute of Business Management (NIBM), which became a self-financing Organization in 1991, will be raising funds for this ground breaking venture through debt and equity via China Development Bank.

This incidentally is the first time that China Development Bank is financing a local educational body in Sri Lanka and will be providing an 85 % loan under the authorization of the Central Bank of Sri Lanka. The NIBM plans on providing 15%.

Dean, School of Business, D. M. A. Kulasooriya told the Daily News Business on Monday at Hotel, JAIC, Hilton that the NSBN plans on opening this state of the art building in 2014. “We hope to begin construction this December in Homagama. We plan on covering the expenses on implementing this university in 12 years since its inception. While the institute hopes to earn revenue of Rs. 25 billion by 2025 and the student fees will be one tenth of what it would cost a student if he was to have this education overseas,” Kulasooriya said.

According to Kulasooriya, the NSBM Green University town will be built under the eye of both local and international expertise. While the construction will be strictly environment friendly, providing the students with all the modern amenities. “The buildings will be constructed under the supervision of both local and United States experts, and will include shopping malls, libraries and gymnasiums and many other infrastructure. “We also plan on having summer camp exchange student programmes with other countries and also hope to woo 10 % of foreign students to our facility,” he said.

NSBM will comprise of three faculties, Information Communication Technology (ICT), Business Management and Engineering. While the university will facilitate 5,000 students per year the institute hopes to cater for 20,000 students for a period of four years. “We hope to take in 1,500 ICT students, while these students will be able to use the best technology in the world they will also be able to connect internationally through telecommunication. The engineering sector which is new to the currently prevailing NSMB Nugegoda will cater to 5,000 student per year,” Director General, NIBM, Dr. E.A. Weerasinghe told the Daily News Business

Business Management will be taken into a new level when the NSBM Green University town gets underway. The students will be able to take share in the share market while getting the experience of working in model companies within the university itself.“The students will be studying for two years full time at the university and then they will be able to get two years of work experience,”

Weerasinghe said while the NSBM had already registered 3,000 students in their Nugegoda institute they will be the first students of this new facility in Homagama. “With this new University town we will be able provide an annual output of 5,000 globally recognized knowledge workers. We will be able provide 300 students direct academic employment,” added Weerasinghe.