Bosch will sign an MoU with BMRCL to build direct connectivity to the nearest metro.
Story so far: Global technology firm Bosch has offered ₹50 crore to the Bangalore Metro Rail Corporation Limited (BMRCL) to approve its access to the Lakkasandra metro station. The fund will go into constructing an underground walkway from its campus in Adugodi to the Lakkasandra metro station.
- The Lakkasandra station, part of the Gottigere-Nagawara metro line, sits close to Bosch’s 76-acre corporate headquarters. The campus houses 10,000 employees and allows only electric vehicles inside.
- As per metro authorities’ approximation, the walkway cost will amount to ₹40 crore, and the remaining ₹10 crore will be for utilising the direct connection. BMRCL will hold onto its ownership, while Bosch will have access rights for 30 years.
The procedure: The German conglomerate currently awaits approval from the high-powered committee authorised to ratify the city’s metro stations’ financing schemes. Subsequently, the firm will sign a formal Memorandum of Understanding (MoU) with the BMRCL.
- Doing so, Bosch will join Infosys, Biocon, Intel, and Embassy in entering into MoUs with the BMRCL to either invest in building a metro station in proximity or pay fees for direct access.
- The BMRCL can fund expensive metro projects cost-efficiently through such partnerships with corporations.