<p>Bengaluru: The DRDO Sports Complex Metro Station, being built on the Blue Line under Phase 2A, will be named after Bagmane, according to Namma Metro. </p>.<p>On Saturday, Bangalore Metro Rail Corporation Limited (BMRCL) entered into a grant agreement with Bagmane Developers Pvt Ltd for financial participation in the development of metro infrastructure. Bagmane will contribute Rs 40 crore for the station’s construction and has already paid Rs 20 crore. </p>.<p>The participation framework, including the tenure and associated consideration, has been calibrated taking into account the location of the station, project characteristics and the limited scope of entitlements. Bagmane Developers will contribute for the enhancement of the interior and external façade of the metro station, BMRCL said in a statement. </p>.<p>In exchange, BMRCL will grant the station naming rights to Bagmane Developers for 20 years. According to the BMRCL, this arrangement represents a grant-based participation model during the construction phase, where the private partner contributes towards capital expenditure of the metro infrastructure. The rights granted under this agreement are limited to naming rights only, without any additional entitlements such as advertisement rights, commercial space or connectivity components. </p>.<p>The DRDO Sports Complex metro station is part of the 19.75-km Silk Board Junction-KR Puram corridor, which will have 17 stations and is slated to open this December. </p>.<p>This is the sixth agreement under BMRCL’s innovative financing framework for Phase 2A. Two more innovative agreements are to be finalised shortly, BMRCL said. </p>
<p>Bengaluru: The DRDO Sports Complex Metro Station, being built on the Blue Line under Phase 2A, will be named after Bagmane, according to Namma Metro. </p>.<p>On Saturday, Bangalore Metro Rail Corporation Limited (BMRCL) entered into a grant agreement with Bagmane Developers Pvt Ltd for financial participation in the development of metro infrastructure. Bagmane will contribute Rs 40 crore for the station’s construction and has already paid Rs 20 crore. </p>.<p>The participation framework, including the tenure and associated consideration, has been calibrated taking into account the location of the station, project characteristics and the limited scope of entitlements. Bagmane Developers will contribute for the enhancement of the interior and external façade of the metro station, BMRCL said in a statement. </p>.<p>In exchange, BMRCL will grant the station naming rights to Bagmane Developers for 20 years. According to the BMRCL, this arrangement represents a grant-based participation model during the construction phase, where the private partner contributes towards capital expenditure of the metro infrastructure. The rights granted under this agreement are limited to naming rights only, without any additional entitlements such as advertisement rights, commercial space or connectivity components. </p>.<p>The DRDO Sports Complex metro station is part of the 19.75-km Silk Board Junction-KR Puram corridor, which will have 17 stations and is slated to open this December. </p>.<p>This is the sixth agreement under BMRCL’s innovative financing framework for Phase 2A. Two more innovative agreements are to be finalised shortly, BMRCL said. </p>
