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 behind the existing business school opposite the railway station at Frideswide Square.

Mr Said, who paid £20m to help establish 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 business school welcomed its new dean, Prof Colin Mayer.

The business school has not yet applied for planning permission for the new building, but has earmarked land straddling its garden and its car park, behind the existing building, for the ambitious new project.

The business school plans to use architects Dixon Jones - who designed the existing building in 2001 - and to use the same materials.

It hopes 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 would include three horseshoe shaped lecture theatres, would go on display in the business school foyer in the near future.

The design of the existing building caused controversy - with some observers likening it to a supermarket.

Dr John Hood, the vice-chancellor of Oxford University, 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 inter- nationally."

He added: "With an increasing emphasis upon lifelong learning in business and upon personal development, it is important that we are prepared to meet the educational needs of our clients - both individuals and companies."

Prof Mayer said the executive education programme at the business school offered practical courses for working executives.

He added that it was a vital part of his plan to make the school relevant to the local community.

He said: "I don't want local people to feel disconnected from the school's activities."

He added: "We are extremely grateful to Mr Said for his ongoing and generous financial support of business education at Oxford."

Following Mr Said's original £20m donation, the school raised £50m from other donors to fund its various programmes.