The joint venture consortia is led by Continental Engineering Corporation (Taiwan) and Soma Construction (India), which emerged as the lowest bidder after financial evaluation has secured the tender contract, according to sources.
The value of the contract, has however, not been announced.
Chairman of the BMRCL and Secretary to the Union Ministry of Urban Development Dr M Ramachandran told Deccan Herald that the tender pertaining to the UG2 (East-West) corridor has been awarded. “The tender for construction of the East-West corridor was awarded after intense negotiations. The package will now be sent to the Japan International Corporation Agency (JICA), the partial funding agency for approval,” said Dr Ramachandran. The underground stretch runs between M Chinnaswamy cricket stadium and Magadi Road on the East-West Corridor and between Seshadripuram and city market on the North-South corridor, totally measuring 8.8 km. It will have seven underground stations, including two at Majestic. Meanwhile, the tender of UG1 (North-South) corridor that has been rebid, will be called for later.
This development comes in the wake of the BMRCL board deciding to break the UG tender package into two, in a bid to cut down costs.