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September 27, 2016 / 24 Elul, 5776
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Chinese Fund Donates $130 million to Technion

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A Chinese fund, bankrolled by the country’s richest man, is donating $130 million Technion University in a joint venture between the Haifa-based university and Shantou University (STU) to build a new academic facility in Guangdong Province.

The contribution from the Li Ka Shing Foundation is the largest in Technion’s history and one of the largest ever to an Israeli university.

The Guangdong Province and the city of Shantou are earmarking an additional $147 million to fund construction of the new Technion Guangdong Institute of Technology (TGIT) next to Shantou University.

The donation to Technion, made possible in part by profits from the fund’s recent  sale of Waze to Google, will be allocated for the Technion’s home campus.

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