The first ever green university in South Asia will be constructed in a 26 acre land at Pitipana, Homagama at a cost of Rs. 10.2 billion.

Rs. 8.1 billion had been obtained from the Bank of Ceylon as a loan. Following discussions with Skills Development and Vocational Training Minister Mahinda Samarasinghe the bank had agreed to reduce the interest payable by .05 per cent thus saving Rs. 372 million for the NSBM (National School of Business Management), a ministry official said.

He said 85 per cent of the construction work of the university had been completed and it would include faculties of Business Management, Information Technology and Engineering and the student intake would be 25,000 including foreigners.

It will be ceremonially opened in September this year under the auspices of President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe.