The Yamuna Expressway Industrial Development Authority (YEIDA) has submitted its report on the proposed new Film City project after incorporating suggestions and recommendations by filmmakers, production houses and music companies to the Uttar Pradesh government, officials said.
The authority has suggested that a meeting be called of the state’s public-private partnership bid evaluation committee to discuss and approve the relaxations and terms of the third global tender for developing the project.
According to officials, the report mentions recommendations such as giving a direct lease of 90 years instead of the current 60+30 years’ arrangement proposal, allotting smaller plots, etc. The much-awaited 1,000-acre Film City is expected to come up in Sector 21 of YEIDA along the Yamuna Expressway, and supplement the saturated sister-project in Sector 16, Noida.
A YEIDA official said that a number of meetings were held with several industry players that include music companies and production houses such as T-Series and Omaxe, the developer that is part of a consortium with Adlabs Films, television giant Star group, multiplex chain PVR, MX Player, video-on-demand platform Zoom TV and Sony, the movie production house.
Apart from these companies, the authority had also connected with several industry players such as Tamil superstar Rajinikanth, Bollywood actor Anil Kapoor and Hindi filmmakers KC Bokadia, Rajpal Yadav and Kailash Masoom to develop the project and also understand the preferences of the industry.
Also Read: Noida Film City: YEIDA holds talks with production houses, filmmakers to relax bidding conditions
“A report based on the outcomes of these meetings with industry players was prepared and sent to the state government last month. Now the government will have to call a meeting of the PPP bid evaluation committee to take the process ahead. We are hopeful that the meeting may be called this month,” the official told Moneycontrol, requesting anonymity.
The official said that on the basis of meetings with industry players, suggestions such as allotment of smaller plots by dividing the 1,000-acre land parcel in sector 21 near, Jewar Airport, into plots measuring 200-250 acres should be done to keep the project viable.
Filmmakers were also of the view that the concession period should be for 90 years instead of 60 years with an option to renew it for 30 years more as it stands now. Production houses also wanted manufacturing units related to film equipment to be allowed in the project.
“All these suggestions have been mentioned in the report. These can be implemented only after they are approved in the bid evaluation committee meeting,” the official said.
Also Read: In Pics: Noida’s Film City Project failed to attract bidders; Know project details
The Film City project received a tepid response from bidders in the first two global tenders. The first global tender for the film city was floated on November 22, 2021. The second was issued on October 17, 2022. The deadline for this was extended up to February 14, 2023, and then February 28, 2023, and then again to March 31, 2023, but no bids were received.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
