Biocon's CSR arm to contribute Rs 65 crore towards Bangalore Metro Station
Oct 08, 2020
Bengaluru (Karnataka) [India], October 8 : Biocon Foundation has signed a memorandum of understanding with the Bangalore Metro Rail Corporation Ltd (BMRCL) to contribute Rs 65 crore towards funding the construction of the proposed Hebbagodi Metro Station on Hosur Road.
The MoU was signed between Kiran Mazumdar-Shaw, Founder and Managing Trustee of Biocon Foundation, and Ajay Seth, Managing Director of BMRCL.
BMRCL will approach the state government of Karnataka jointly with Biocon Foundation for naming the Hebbagodi Metro Station as Biocon Hebbagodi Metro Station.
The Hebbagodi Metro station is part of a new line of 18.82 km from R V Road to Bommasandra being constructed under phase two of the Bangalore Metro Rail Project at a cost of Rs 5,744 crore.
This Metro connectivity will provide a sustainable and efficient mode of transport to residents and business commuters from all parts of Bengaluru, reducing traffic congestion on Hosur Road and helping lower the environmental impact from vehicular pollution.
Biocon Foundation is funding the construction of the Metro station as part of its CSR activities aimed at promoting sustainable urban development and urban transport, it said in a statement on Thursday.
