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Infosys Foundation Signs MoU with Bangalore Metro to Build & Maintain the Electronics City Metro Station

Posted On: 2018-07-19 12:02:16

Infosys Foundation, the philanthropic arm of Infosys, today announced that it has signed a Memorandum of Understanding (MoU) with the Bangalore Metro Rail Corporation Limited (BMRCL) towards the construction of a station at Konappana Agrahara, in Electronics City.

This station is under the second phase of Bangalore Metro's expansion plans and the Foundation has committed to maintaining this station for the next 30 years.

The MoU, which was signed in the presence of Karnataka Chief Minister, Shri H.D. Kumaraswamy, and Deputy Chief Minister, Shri G. Parameshwara, also mentions the following:

- The station, to be named Infosys Foundation - Konappana Agrahara Metro Station, will be spread over two lakh square feet

- A 3,000 square feet space within the station will be dedicated to Infosys Foundation which will provide local craftsmen and artisans a platform to showcase their talent, and also host exhibitions, free of rent

- The roof of the station will be designed to support solar panels that will provide power for lighting, making this station a sustainable building

"We are extremely happy to have Infosys Foundation support BMRCL's expansion plan in Konappana Agrahara towards building a new metro station. The station is expected to be operational by 2021 and we encourage citizens of Bengaluru to fully avail the services of the metro rail and other public transportation systems. The government is extremely proud of BMRCL's achievements till date, and would like to congratulate BMRCL and Infosys Foundation on this momentous occasion," said Karnataka Chief Minister, Shri H.D. Kumaraswamy.

Speaking on the occasion Ms. Sudha Murty, Infosys Foundation Chairperson, said, "The metro is among the finest infrastructure projects our city is developing, and it is a boon to thousands of commuters in the city. Infosys Foundation is proud to contribute to this metro expansion program. Once operational, it will help further ease the traffic situation in Bengaluru and encourage office-goers to embrace public transportation."

Bangalore Metro currently sees close to 4 lakhs commuters daily, and this figure is expected to surge once BMRCL's 6-coach trains are functional by 2019. Daily ridership is also expected to increase several folds once the organization's Phase II expansion plans are completed by 2021.

"This station is extremely important as Electronics City is evolving as the city's new central business district. This area of Bengaluru witnesses thousands of IT professionals travelling daily to work, and considering traffic situations in parts of the city like the Madiwala and Silk Board junctions during peak hours, we expect this new route to ease traffic woes along this busy corridor and provide an alternative solution to a large number of private vehicles. We are grateful to Infosys Foundation for coming forth with their support towards building a landmark station," said Mr. Ajay Seth, Managing Director, BMRCL.

Shares of INFOSYS LTD. was last trading in BSE at Rs.1322.4 as compared to the previous close of Rs. 1327.4. The total number of shares traded during the day was 184669 in over 5154 trades.

The stock hit an intraday high of Rs. 1343.2 and intraday low of 1314.35. The net turnover during the day was Rs. 244434528.


Source: Equity Bulls

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