Biocon Foundation, the CSR arm of Biocon Ltd, Biocon Biologics India Ltd. and Syngene International Ltd., 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 Ms Kiran 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 will help in easing traffic 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 up to a distance of 500 meters, as per the MoU.
About Biocon Foundation:
Biocon Foundation, the Corporate Social Responsibility arm of Biocon, Biocon Biologics and Syngene International, is working to empower marginalized communities since 2005. Biocon Foundation partners with the society to promote social and economic inclusion. It has thus made significant investments in enhancing access to quality healthcare, education and civic infrastructure along with environmental sustainability projects. Combined with field initiatives, these programs create a momentum to elevate the marginalized sections of the society. The Foundation has built a strong reputation for the quality of its programs and their impact in addressing social, humanitarian and environmental challenges faced by the communities it serves. The programs have contributed to realizing the vision of empowering and integrating the underprivileged into the social and economic mainstream of India.
About Biocon Limited:
Biocon Limited, publicly listed in 2004, (BSE code: 532523, NSE Id: BIOCON, ISIN Id: INE376G01013) is an innovation-led global biopharmaceuticals company committed to enhance affordable access to complex therapies for chronic conditions like diabetes, cancer and autoimmune diseases. It has developed and commercialized novel biologics, biosimilars, and complex small molecule APIs in India and several key global markets, as well as generic formulations in the US and Europe. It also has a pipeline of promising novel assets in immunotherapy under development.
Source: Biocon-Press Release