Ahmedabad: New Delhi-based infrastructure developer Anant Raj Industries will set up an "Education City" at Mehsana, about 90 km from here, on an investment of Rs.3,500 crore, the company said on Monday.

The township project, which is to come up on 750 acres, will have universities, colleges and schools besides multiplexes, service apartments, hostels, auditoriums and hotels, company executive director Amit Sarin said in a statement.

The project will be completed in three phases over two years, with the first phase taking off in about two months, Sarin said.

Universities and colleges will be allocated between 10 to 20 acres for developing infrastructure at Mehsana Education City, Sarin said, adding that his company has begun contacting institutions in this regards.

The company is in the process of developing special economic zones (SEZs), IT parks, hotels, commercial complexes, malls, residential projects, service apartments and infrastructural facilities across the country, he said.