The Lok Sabha on Tuesday tabled the Bill to setting up of a permanent campus for the Indian Institute of Petroleum and Energy (IIPE)-Visakhapatnam under the Andhra Pradesh Reorganisation Act-2014. The IIPE-Vizag is currently operating from Andhra University Engineering College campus and is offering courses in B Tech Petroleum Engineering and B Tech Chemical Engineering. The Bill will pave way for granting the status of Institute of National Importance on par with IITs to IIPE. The Bill was introduced as the Indian Institute of Petroleum and Energy Bill in the Lok Sabha by Minister of State (Independent Charge) for Petroleum and Natural Gas, Dharmendra Pradhan. The curriculum of the institute is proposed to be a specialised one and would include advanced programmes at the post-graduate and doctoral level.
The AP government has allocated over 150 acres at Anthakapalle area under Sabbavaram mandal in Visakhapatnam district for free of cost for setting up the permanent campus of IIPE-Vizag. Union Minster Dharmendra Pradhan laid foundation stone for the permanent campus of IIPE on October 20, 2016. The establishment of the institute will require total capital expenditure of ₹ 655.46 crore and an endowment fund of ₹ 400 crore.
The Institute will have the governance structure as well as legal mandate to grant degrees in a manner similar to that enjoyed by IITs. IIT- Kharaghpur which is mentoring IIPE is also playing a role in the appointment of new professors for the institute. At present there are four professors working on the campus and five more will join by July 19.