In a significant development, the Punjab Chief Minister Parkash Singh Badal today gave nod for setting up of the prestigious Indian Institute of Information Technology (IIIT) at Kapurthala. A decision to this effect was taken by Badal in a meeting held here at CMO this morning. Disclosing this here today a spokesperson of the CMO said that Badal also gave clearance for 50 acres of land for establishing this institute at the suitable site in or around Kapurthala. Meanwhile, the Chief Secretary Rakesh Singh apprised the Chief Minister that the upcoming IIIT would be developed in PPP mode at a cost of Rs.128 crore with 35% share of state government, 50% GoI and 15% of the private player from industry. He said that the state-of-the-art institute in the advanced studies of information technology would provide enormous opportunities to the local youth for excelling globally besides acting as a catalyst to boost the IT industry in the state. The Chief Minister asked the Technical Education department being the nodal agency to work out the requisite modalities for early completion of the project. Prominent amongst others who were present in the meeting included Food Supplies & IT Minister Adesh Partap Singh Kairon, Industries & Technical Education Minister Anil Joshi, Chief Secretary Rakesh Singh, Principal Secretary to Chief Minister SK Sandhu and Special Principal Secretary to Chief Minister Gaggandip Singh Brar.