The Infosys Foundation is looking to fund Rs. 200 crore for the proposed Konappanna Agrahara Metro station at Electronics City under the Bangalore Metro Rail Corporation Limited’s Phase-II project.
A memorandum of understanding between the Infosys Foundation and BMRCL will be signed on July 19, said Chief Minister H.D. Kumaraswamy on Saturday. Infosys Foundation chairperson Sudha Murty met him at his home office Krishna. Apart from donating a huge amount to Kidwai Memorial Institute of Oncology, the foundation also has played a major role in the Education sector.
On the occasion, Ms. Murty said her foundation would also take up maintenance of the metro rail tracks and the station for a period of 30 years after the completion of the project.
“It is a win-win situation for the both the company and the BMRCL. A concourse from the metro station to the IT park will give a hassle-free access to the metro station,” said Ajay Seth, managing director, BMRCL. Infosys will reportedly also provide the land for the metro station.
“Linking the metro with IT corridors like Electronic City is very crucial as it will help people commuting to tech parks for work. The State government had given the green signal to raise funds for the project under the innovative financing scheme where companies reach an agreement with BMRCL to fund the project to build a the metro station near their campus,” Mr. Seth added.
In the past the BMRCL had reached an agreement with companies — such as Intel Technology India Pvt. Ltd., Embassy Group — to fund the construction of metro stations at Kadubeesanahalli and Bellandur on the ORR line (Silk Board to K.R. Puram). The companies also get naming rights, commercial and advertisement spaces at the metro station for certain period and others. However, the terms of references may differ for each company funding the project.