CHELMSFORD-based Anglia Ruskin University is celebrating a £12million funding boost.

The university has received the cash from the Higher Education Funding Council, which will enable it to create 540 extra full-time places for students.

Anglia Ruskin is set to benefit from the allocation as part of a £270million university modernisation fund.

The successful bid will support new entrant places this September and investments in projects to generate efficiency savings.

Of the total figure, £7million will be given directly by HEFCE while an additional £5million will come to Anglia Ruskin through associated tuition fees over three years.

Anglia Ruskin, along with all other universities, has recently seen its HEFCE-funded student places capped, despite a 36 per cent increase in the number of applications for the next academic year.

As a result of this funding, the university is now able to re-open a number of courses to applicants.

Vice-chancellor Professor Michael Thorne said the news will give a boost to both students and staff.

He added: “We are delighted our university has been selected for this special funding, designed to produce graduates with the particular skills the economy needs to help build its way out of recession.

“This news is particularly welcome as we have had to cap student numbers despite a huge increase in the volume of student applications we have received.

“We predict these additional places will be taken up very quickly in the current environment.

“Initiatives like these will most certainly help to get the economy and higher education back in alignment, so we will be able to continue to supply the high calibre of work-ready graduates businesses and organisations need, to retain confidence in the, now extremely competitive, global marketplace.’