The February 2018 newsletter of the Bangalore Metro Rail Corporation Ltd. indicates that the BMRCL signed a Memorandum of Understanding (MoU) with Intel Technology India Private Limited on January 17 for the development of an undisclosed metro station on the upcoming 17 km Outer Ring Road Line between Silk Board and KR Puram of Phase 2A.
After the Rs 100 crore MoU signed with the Embassy Group in June 2017, this is the second MoU under the BMRCL’s ‘innovative financing model’ that has been made public. However, no specific details about the exact name of the station or the MoU’s value have been disclosed.
Caption from BMRCL –
Shri Mahendra Jain, IAS, Managing Director, BMRCL along with Ms. Nivturi Rai, Country Head & President Intel India, & Vice President, Data Center Group, Intel Corporation-Signed the Memorandum of Understanding on 17.01.2018, as Intel is financing through Innovative Funding for one of the Station of Phase-2A (i.e. for K. R. Puram to Silk Board Line). Also present were the Senior officials from Intel India and Directors from BMRCL.
Intel Technology India’s campus is located south of the ORR in Bellandur, so it’s highly likely that the elevated Bellandur Station will be financed by them. In return, it is expected that a direct ramp access between the station and campus will be built, and Intel will receive advertisement and retail space.
Here’s the mid section of the line which includes Bellandur Station –
The line’s Detailed Project Report was prepared by BMRCL in 2016 and estimates its construction & system procurement to cost Rs 4202 crores. Instead of relying on foreign lenders, the BMRCL plans to fund this line through what it calls an ‘innovative financing model’ in which private entities are currently being engaged to pitch in anywhere from Rs 1100 crores (BMRCL’s claimed likely scenario) to Rs 2100 crores (BMRCL’s claimed optimistic scenario).
The disclosure of this MoU is an encouraging sign in an otherwise delayed project. Tenders for the line’s construction are expected to be invited only after a certain undisclosed threshold value of funds are tied up.
For more updates, check out the Bangalore section of The Metro Rail Guy!
Hat tip to Syed Khaja