The University of Canterbury has received the $260 million government cash injection it desperately needs to get back on its feet.
The Government's contribution will fund a new science centre and expand and upgrade engineering facilities.
The university has a redevelopment plan to modernise its campus and infrastructure. The total programme is valued at $1.1 billion over 10 years.
About 25 per cent will be insurer-funded, about half funded by the university and the rest from the government support announced today.
The work programme is being lauded as "one of the largest building projects in New Zealand" and a major contributor to the Canterbury recovery.
The investment would be focused on three elements - a capital investment of up to $250m in new engineering and science research facilities, an immediate $10m for the detailed planning for these projects and a five-year commitment to the "Student Achievement Component", funded by the Tertiary Education Commission to provide "whole of institution" support.