Ranchi: Decks have now been cleared for setting up of an Indian Institute of Management (IIM) in Ranchi with the state government offering no-objection certificate (NoC) for a 200-acre landsite near Kanke, 11 km from the district headquarter.

The proposal for establishment of IIM in Jharkhand was cleared by the Union Human Resources Ministry last year, for which the Centre had also agreed to provide Rs 250-crore financial support for the institute, which is slated to become functional by next year.

Jharkhand Higher Education Director Anjani Srivastava said that the Ranchi Divisional Commissioner (DC) has given his nod for the land identified for the IIM.

"As the entire plot belongs to the state government, there would not be any hitch in starting construction," he added.

Anticipating positive approach from the district administration, the State Directorate has already forwarded the detailed project report (DPR) to the Centre to complete the formality for procuring the fund.

The state government is relying on the Kolkata-pattern of IIM for development of infrastructure for the proposed institute in Ranchi.

Initially, the Kanke IIM is likely to have 120 seats. However, the Director said that he would go to New Delhi to finalise the structural aspects of faculties with senior officials and also to facilitate experts' visit for the site by the end of this month.

It may be recalled that the Centre under the 11th Five Year Plan had wished to set up six IIMs by 2012. However, as Jharkhand's proposal was cleared along with two others in Chhattisgarh and Tamil Nadu, the Union HRD Ministry is learnt to have given its nod for the site inspection of the proposed institute.

Accordingly, it has roped in an in-house body—Educational Consultants India (EDCil)—as consultant to assess the project's viability by making on the spot visit.