The guru goes to school

LN Mittal may have conquered a global frontier with his Arcelor deal, but he sure knows where the quest begins. The most financially successful alumnus of St Xavier’s, Kolkata, has big plans for the college, which may involve an investment of Rs 120 crore. “I had discussed plans of a second campus at when I met him (Mittal) in ‘04,” said Father PC Mathew, principal.

In November ‘05, Mittal Steel committed $3m to the Kellogg Mittal Scholars’ Programme, which will commence this Fall, at the Kellogg School of Management. The programme will provide 20 scholarships for MBA students for a three-year term.
And at Jharkhand, there’s more than a smart business move.

Along with its MoU for a greenfield steel project in October ‘05, Mittal Steel has signed an agreement endorsing the state government’s plan to seek participation of the world’s top corporate houses in the upgradation and development of ITIs and polytechnics.

ET also spoke to the IIM (C) faculty about a Mittal-funded endowment. Ranjan Das, professor of strategic management said: “The funds for running the institute can come only from the government and not from anybody else. This is to ensure the highest standards of academic independence.

However, there have been instances whereby we have created a chair in the name of an organisation but even in that case, there cannot be any strings attached.”