Bengaluru: The Biocon Foundation on Thursday pledged Rs 65 crore toward construction of the proposed Hebbagodi Metro station on Hosur road.

The foundation, the Corporate Social Responsibility (CSR) arm of the Biocon Ltd, signed a Memorandum of Understanding (MoU) with the Bengaluru Metro Rail Corporation Limited (BMRCL) to the effect, a release from Biocon said on Thursday.

The MoU was inked by Biocon Foundation founder and managing trustee Kiran Mazumdar-Shaw and BMRCL managing director Ajay Seth.

As recognition of Biocon Foundation’s contribution to society, BMRCL will approach the Karnataka government jointly with the Biocon Foundation for naming the upcoming station as Biocon Hebbagodi Metro Station.

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Founder and managing trustee of Biocon foundation Kiran Mazumdar-Shaw said that “This project will help in easing traffic congestion by enabling greater use of public transportation”.

The Metro Station is part of the new 18 kilometre line from RV Road to Bommasandra being constructed under Phase II of the Bengaluru Metro Rail project at a cost of Rs 5,744 crore, and is expected to provide a sustainable and efficient mode of transportation to residents and business commuters from all parts of the city.