Bayview Projects, backed by filmmaker Boney Kapoor and Bhutani Infra, won the tender to develop International Film City near Noida, Uttar Pradesh, said officials on Tuesday. The company has offered the highest revenue share to the state government to get the greenfield project, they added. The project is being developed on the public-private partnership (PPP) model.
Who all were in race to get the project
Four bidders, including T-Series and companies backed by superstar Akshay Kumar and filmmaker Boney Kapoor, have qualified for the last round of financial evaluation as prospective developers for the International Film City near the upcoming Noida Airport.
Super Cassettes Industries Private Limited (T-Series), Supersonic Technobuild Private Limited (Maddock Films, Cape of Good Films LLP, and others), Bayview Projects LLP (backed by Boney Kapoor and others) and 4 Lions Films Private Limited (backed by filmmaker K C Bokadia and others), on Saturday made their presentations to the officials of the Uttar Pradesh government.
The meeting was chaired by UP Industrial and Infrastructure Development Commissioner Manoj Kumar Singh, Principal Secretary and Chairman of Yamuna Expressway Authority Anil Sagar, Director Information Shishir Singh, Yamuna Expressway Authority CEO Arun Vir Singh, and project's OSD Shailendra Bhatia.
On Saturday, Bhatia, who is also the Additional CEO of the local Yamuna Expressway Authority, said after the financial bid was opened, the proposal of the selected concessionaire would be sent to the state government for approval.
The bid for the project was floated on September 30, 2023, with January 5, 2024, as the deadline. This is the third time that the bid for the development of the Film City has been floated after two previous attempts failed to attract investors. A pet project of Uttar Pradesh Chief Minister Yogi Adityanath, the Film City is envisaged as an international project spanning over 1,000 acres (230 acres in first phase) of land along the Yamuna Expressway near Noida. The project is situated in Sector 21 of the Yamuna Expressway Authority near the upcoming Noida International Airport.
(With PTI inputs)
