Under the MoU, Coal India Limited, under its Corporate Social Responsibility program will contribute 75 crore rupees towards the National Sports Development Fund.
The fund will be used for construction of three large hostels meant for sports persons.
These hostels will be constructed at Lakshmibai National Institute of Physical Education, Gwalior and Sports Authority of India’s centres at Bhopal and Bengaluru with a combined capacity of 350 sports persons.
The initiative is seen as a significant step towards reaping the sports atmosphere created through recent success in Olympics and Paralympics where India finished with the best ever medal tally.
The project will be completed by 2023 for which Coal India Limited has already released 25 crore rupees.
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