The Yamuna Expressway Industrial Development Authority (YEIDA) has extended the deadline for the global tender to apply for the development of the International Film City near the upcoming Jewar Airport. The revised deadline is now December 15 and the technical bids for the project will be opened on December 20, officials privy to the development said.
They said that the move to extend the deadline comes after prospective bidders, some of them major global firms, sought more time to apply for the project. Earlier, the deadline was November 30. The first phase of the Uttar Pradesh government’s ambitious Film City project envisages development of 230 acres involving an investment of around Rs 1,500 crore. The area earmarked for the entire Film City project is 1,000-acres.
The Film City will come up in sector 21, which is situated adjacent to the Yamuna Expressway and is located only six kilometers from the Noida International Airport in Jewar. YEIDA had, on September 30 this year, floated a global tender for the third time, inviting investors and production houses to develop, operate and maintain the first phase of the project on a public-private partnership (PPP) model.
On the previous two occasions, the Authority had invited bids for the development of the entire project on 1,000 acres. However, no one showed much interest in the project because of the huge investment involved.
“Till November 30 only two firms could formally apply for the project but several companies, including global ones, have evinced interest in the project. They wanted some more time to apply for the project so we have decided to extend the last date for application in the global tender till December 15 and technical bids will open on December 20. We will for sure have a developer for the Film City project post December 20,” YEIDA CEO, Arun Vir Singh, told Moneycontrol.
He said that around seven companies, some of them major global players, have shown interest in the project. Major potential bidders for the project include Fox Studios, the Universal Group, music company T-Series and South Korean firm Sequoia Group, Singh said.
On October 26, several filmmakers, production houses and music companies had participated in the pre-bid meeting of the film city project. Those who attended the pre-bid meeting included filmmakers KC Bokadia, representatives of Maddock Films, representatives of filmmaker, Vipul D Shah, representatives of music company T-Series, and representatives of a Korean firm, Sequoia among others. In October this year, Bollywood actors Akshay Kumar and Kangna Ranaut had also visited the film city site.
Project specifics
According to officials, in the first phase, the Film City project will be developed only on 230 acres of land, of which 155 will be dedicated for industrial use and the remaining 75 for commercial use. The industrial aspect of the project will comprise the development of film studios, a film institute, post-production facilities, and other film-related developments, while the commercial part will include activities such as hospitality projects, amusement park, among others.
The entire project will have to be completed in eight years, while the industrial aspect of the development is scheduled to be completed in three years, officials said.
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