Infy foundation gives Rs 40 cr for metro station

The Infosys Foundation, which had entered into an agreement to fund the Konappana Agrahara Metro Station in Reach 5 (RV Road-Bommasandra) line, has come forward to carry out work on the superstructure and interior of the station.

In a release on Friday, the BMRCL said the foundation — the philanthropic and CSR arm of Infosys — released the second tranche of funds. Additionally, the foundation has agreed to maintain the station for 30 years.

“As per the Memorandum of Understanding, Rs 100 crore was agreed to be paid by the Infosys Foundation in four instalments, of which
Rs 10 crore was released in July 2018 and Rs 30 crore was released today (Friday),” the release said.

The foundation will release Rs 60 crore in two instalments by December 31, 2021, which is also the targeted completion date for RV Road-Bommasandra line, the BMRCL said.