The Odisha government will invest Rs 1,500 crore to develop Odisha University of Technology and Research, Bhubaneswar.

Chief minister Naveen Patnaik on Tuesday approved the master plan for the transformation of the OUTR, formerly known as College of Engineering and Technology (CET), one of the oldest engineering colleges of the state, at par with IITs, IIM, NIT and other top class institutions of the country.

According to the plan, Rs 1,500 crore would be invested in the next three years for the development of the CET into a top class institution. At least Rs 1,000 crore would be spent in the institution in the first year itself.

According to the press note issued by the chief minister’s office, the strength of the OUTR would be enhanced to 10,000 in the next five years from existing students’ intake capacity of 4,600.

Under the plan, new courses will be opened for new age technology. Emphasis would be given to establish more centres of excellence to promote human resource development and inter-departmental research programs. In addition, teaching and research will be carried out in partnership with national and international universities.

In its premises, an incubation centre will also be developed in collaboration with various leading industries to encourage start-up culture among entrepreneurs and develop entrepreneurial spirit among them. “Focus will be on how to avail new patents and intellectual property rights for the research works undertaken in the university campus,” officials said.

The CET was set up as a constituent college of Odisha University of Agriculture and Technology (OUAT) in 1981.

Later, it was shifted to its newly built campus at Ghatikia near Khandagiri in 2001. It was accorded the status of the university in 2021 and re-christened as Odisha University of Technology and Research. “It’s the only institution in Odisha that has received National Assessment and Accreditation Council (NAAC) ‘A’ grade accreditation,” said the press note.