June 23, 2017 / 12:00 PM / 5 months ago

BRIEF-Embassy Group signs MOU with BMRCL worth 1 bln rupees

June 23 (Reuters) - Embassy Group:

* Embassy group signs mou with BMRCL for Kadubeesanahalli metro station for 1 billion rupees Source text: [Embassy Group today announced the signing of a Memorandum of Understanding (MoU) with the Bangalore Metro Rail Corporation Ltd (BMRCL). The MOU has been signed for the construction of the Kadubeesanahalli Metro Station, just outside Embassy TechVillage, on the 17-km long recently approved North-South metro corridor on Outer Ring Road. The construction will be done in accordance with the façade designs and specifications approved by BMRCL. Embassy has agreed to pay an amount of Rs.100 Crores to BMRCL for the purpose of the above project in installments. The period of concession and permission granted to Embassy Group will be for a period of 30 years starting from the date of commencement of commercial operations and could be extended further on mutual terms.]

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