- Associated Press - Friday, January 24, 2014

AUSTIN, Texas (AP) - The Houston-based Mulva Family Foundation has pledged $60 million to the University of Texas in Austin.

The gift announced Friday involves the foundation established by retired Houston oil executive Jim Mulva and his wife, Miriam. The funds will support the McCombs School of Business and the Cockrell School of Engineering.

The money will help build a new $310 million Engineering Education and Research Center, including a conference center and auditorium named for the couple.

Mulva, who’s a former chairman and CEO of ConocoPhillips, 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 UT’s president.

The Mulvas began their philanthropy to UT in 1986 with a $100 donation to the business school.

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