President Pranab Mukherjee will inaugurate the newly built School of Commerce and Economics Building at the Loyola College campus here later this week.
"The President has given his consent to inaugurate the new building on December 20. The four-storeyed School of Commerce and Economics building, constructed at a cost of Rs 11 crore, will have 46 smart classrooms," Loyola College Principal G Joseph Antony Samy SJ told reporters.
The building spread over one-lakh square foot is an initiative of the college alumni, some of whom have funded construction of about 16 'smart' classrooms, each costing Rs 20 lakh, he said.
Asked about Loyola Institute of Business Administration offering similar courses, he said LIBA is not associated with University of Madras and directly operates under All India Council for Technical Education, whereas the proposed School of Commerce and Economics would be affiliated with the University of Madras.
The college proposes to have self-financing programmes on Commerce, Corporate Secretaryship and Economics in the new building.