Staff Correspondent

MANGALORE: Foundation stone for Aloysius Institute of Management and Information Technology (AIMIT), a constituent of St. Aloysius College, Mangalore, will be laid on October 20 by Prem Watsa, chief executive officer of Fairfax Financial Holdings, Canada.

The campus will be built on a 20-acre plot at Kotekar-Beeri near here at an estimated cost of Rs. 40 crore.

Addressing presspersons here on Tuesday, Denzil Lobo, director of Aloysius Institute of Computer Science (AICS), said the campus, a residential one, would be developed in two stages spread over five years.