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Vladivostok-based Far Eastern State Technical University made it to the list of Russia’s 40 universities to receive a grant from the federal budget for the implementation of its educational program, a press statement from the university reported Thursday.

The university, which will receive 731 million rubles ($27.9 million) towards the realization of specified educational goals presented in the contest, was chosen by experts together with the other winners out of 71 finalists.

Overall, a total of 251 universities entered into the contest presenting their innovative educational programs, the statement said.

The other two universities from the Russian Far East to receive grants are the Far Eastern Railway Institute in Khabarovsk and Yakutia State University.

Among the winners are 15 Moscow universities and four universities in St. Petersburg.

The funds to be allocated to the winning universities accounts to 20 billion rubles ($763 million), with the universities’ proposed educational programs to be implemented in 2007-2008.

According to Russia’s Minister for Education Andrei Fursenko, who headed the contest commission, the universities may receive the money by this April, Interfax said.

This grant program sponsoring innovative educational programs at the university level has been held since 2006 within the national educational project. The winners are chosen in an open contest, with the universities submitting two-year plans for educational programs.

Meanwhile, Vladivostok’s grant winning university chose as its new president, Anvir Fatkulin, who was elected by majority of votes by the University staff on Tuesday. The previous president, Gennady Turmov, had been elected the university president in 1992 and retired from the position prior to the election due to age.