Bengaluru: Biocon Foundation, the CSR arm ofBiocon Ltd, Biocon Biologics India Ltd.and Syngene International Ltd. (BSE: 539268, NSE: SYNGENE), today announced that it has signed a Memorandum of Understanding (MoU) with the Bangalore Metro Rail Corporation Limited (BMRCL) to contribute Rs 65 Crore towards funding the construction of the proposed Hebbagodi Metro Station on Hosur Road.
The MoU was signed between Ms Kiran Mazumdar-Shaw, Founder and Managing Trustee, Biocon Foundation and Mr Ajay Seth, Managing Director, BMRCL.
As a recognition of Biocon Foundation’s contribution to society, BMRCL will approach the Government of Karnataka jointly with Biocon Foundation for naming the Hebbagodi Metro Station as ‘Biocon Hebbagodi Metro Station’.
Speaking on the occasion MsKiran Mazumdar-Shaw, Founder and Managing Trustee, Biocon Foundation, said, “We are pleased to partner with BMRCL for the construction of the Metro station at Hebbagodi on Hosur Road. Through our contribution of Rs 65 crore, we are fulfilling our responsibility towards environmental sustainability by providing an alternate means of mobility for the citizens of Bengaluru. This project willhelp in easingtraffic congestion by enabling greater use of public transportation.Biocon Foundation is committed to invest in building resilient healthcare, education, water and sanitation, and public infrastructure to drive social inclusion and the Bangalore Metro is a great addition to the public infrastructure in Bengaluru.”
Mr. Ajay Seth, Managing Director, BMRCL, said: “We are extremely happy to have Biocon Foundation for coming forth with their support for Sustainable Urban Development and Urban Transport. BMRCL is committed to and is working actively to add 128 km of new metro network in the coming five years.”
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, as per the approval of the Ministry of Corporate affairs, Government of India.
The Hebbagodi Metro station is part of the new line of 18.82 km from R V Road to Bommasandra (Reach 5) being constructed under Phase II of the Bangalore Metro Rail Project at a cost of Rs 5,744 Crore. This Metro connectivity would 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.
Bangalore Metro will construct a foot overbridge connecting unpaid area of the Metro Station concourse to the other side of Hosur Road to provide access to Metro commuters and the general public. It will also undertake other station access infrastructure such as footpath improvement on either side of the station upto a distance of 500 meters, as per the MoU.
