Mumbai: Teaching services provider Core Education and Technologies on Monday said it is expanding into teaching delivery by running an institute in the United Arab Emirates. (Agencies)
The city-headquartered company listed on the BSE and NSE has tied up with the provincial government at Ras al-Khamiah in the UAE for running an already existing higher education institute.
"We wanted to get into education delivery for long time now and are also interested in the MENA (Middle East and North Africa) region...this tie-up will address both the issues," the company's Chairman and Global Chief Executive Sanjeev Mansotra told over phone.
He said the company is in the process of establishing a higher education university in Hyderabad.
The eight-year-old company was till now engaged only in education services like providing content, assessment tools etc and this would be its maiden venture into teaching.
A senior company official said it will start education delivery by taking over the operations of the institute in the province starting April 2012.
The institute offers courses in the streams of architecture, engineering and business administration and provides the company a captive access to 300 students.
On the revenues front, the official said the tie-up will provide a cash flow of up to 9 million Dirham per year, and the company will have to pay 2 million Dirham to the local authority and 15 per cent of tuition fees to Ranchi's BIT, which is the education content partner of the institute.
The official said the company has earmarked USD 2 million in investments with regard to the newly stitched tie-up.
He said the company has also entered into an agreement with the Government of Ghana to provide content for the K-12 (up to class 12) segment worth USD 13.5 million.
Mumbai: Teaching services provider Core Education and Technologies on Monday said it is expanding into teaching delivery by running an institute in the United Arab Emirates.