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University Of Texas Gets $60 Million Gift

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General view of the University of Texas Tower on the University of Texas campus on September 21, 2013 in Austin, Texas.  (Photo by Ronald Martinez/Getty Images)

General view of the University of Texas Tower on the University of Texas campus on September 21, 2013 in Austin, Texas. (Photo by Ronald Martinez/Getty Images)

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AUSTIN (AP) — The Houston-based Mulva Foundation is making a $60 million pledge to the business and engineering schools at the University of Texas.

The gift announced Friday will help build a new $310 million engineering research and education center, and renovate the graduate school and administration buildings in the business school.

Jim Mulva earned undergraduate and graduate degrees at Texas in 1968 and 1969. He served in the U.S. Navy and was stationed in Bahrain with Bill Powers, who is now the university president. His business career included serving as chairman and chief executive of ConocoPhillips.

Jim and Miriam Mulva began their philanthropy with Texas in 1986 with a $100 donation to the McCombs Schools of Business in 1986. They later donated $15 million to build the school’s liberal arts building.

(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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