OXFORDSHIRE billionaire Wafic Said has pledged £15m towards a new £30m extension of the Said Business School in Oxford.

The extension would house an executive education centre next door to the existing business school at Frideswide Square.

Mr Said, who paid £20m towards establishing the Said Business School in 1998, is now hoping that his new donation will be matched by another donor.

He has suggested that "naming rights" of the new centre should be made available if his gift is matched.

The announcement of the new cash came during the week the Said Business School welcomed its new dean, Prof Colin Mayer.

The Business School has not yet applied for planning permission for its new building, but has earmarked land straddling its garden and its car park for the ambitious new project - just across the fence from the Oxford Railway Station's car park.

The Said Business School plans to use architects Dixon Jones to construct the new executive education centre - the same firm employed to build the existing business school in 2001, and to use the same materials.

It hopes that work will start on the new building in 2008 and be completed in 2010.

Prof Mayer said a model of the proposed new building, which will include three horseshoe shaped lecture theatres, will go on display in the foyer of the Said Business School in the near future.

The existing building caused controversy at the time with traditionalists objecting to the radical design compared to existing university buildings.

Vice-Chancellor of Oxford University, Dr John Hood, said: "The university is delighted the Said Business School is seeking to build upon its considerable achievements in this way, and to contribute to the development of executive education internationally."