In a significant development for the entertainment industry, four high-profile bidders, including Bollywood stalwart Akshay Kumar and renowned filmmaker Boney Kapoor, have emerged as potential developers for the proposed International Film City near the upcoming Noida International Airport in Jewar.
According to officials from the Yamuna Expressway Industrial Development Authority (YEIDA), representatives from the four bidding companies recently presented their proposals for the Film City Project to Manoj Kumar Singh, the Industrial Development Commissioner of the Government of Uttar Pradesh.
Boney Kapoor & Akshay Kumar were present in the meeting virtually
During the presentation, film producer Boney Kapoor, along with representatives from Bhutani Infra, Bayview Projects LLP, and 4 Lions Films Private Limited, outlined their respective visions for the ambitious project. Actor Akshay Kumar participated in the meeting virtually on behalf of Supersonic Technobuild Private Limited, while Super Cassettes Industries Private Limited (T-Series) was represented by Vinay Kumar Mittal and others.
Financial bids will be unveiled at a future meeting
Arun Vir Singh, the Chief Executive Officer of YEIDA, confirmed that all four companies have been deemed technically qualified. He further disclosed that the financial bids will be unveiled during the upcoming meeting scheduled for January 30.
Singh highlighted that the presentations focused on crucial aspects such as the vision, concept, timeline, and key features pertaining to the development of the Film City project by the bidding companies. The meeting witnessed the participation of key officials, including Anil Kumar Sagar, Principal Secretary and Chairman of Yamuna Authority, Shishir Singh, Director of Information, and additional senior executives from YEIDA.
The project will operate on the public-private (PP) Model
Shailendra Bhatia, OSD, emphasized that the project will operate on a public-private partnership (PPP) model, with the developer offering the highest revenue share to the state government, ultimately securing the project. He further explained that once the financial bids are assessed, the selected concessionaire's proposal will be forwarded to the state government for approval.
Following the necessary approvals, the concessionaire will be allocated land for the project's construction. "The development of the International Film City holds immense potential for boosting the region's economy and establishing Uttar Pradesh as a prominent hub for the film and entertainment industry. With high-profile bidders vying for the opportunity, the project is poised to redefine the landscape of Indian cinema," a senior government official, Shishir, said.
