Boney Kapoor-backed firm wins bid to develop Film City near Noida
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Noida: Bayview Projects, backed by filmmaker Boney Kapoor and real estate developer Bhutani Group, on Tuesday bagged a contract to develop the International Film City near the upcoming Noida International Airport in Uttar Pradesh, according to officials.
The financial bid for the greenfield project was opened on Tuesday afternoon by the Yamuna Expressway Industrial Development Authority (YEIDA), which functions under the Uttar Pradesh government.
"M/s Bayview Projects LLP (Boney Kapoor and Bhutani Group) will develop the International Film City in the Yamuna Expressway area after making the highest bid for the Film City," YEIDA said in a brief statement.
The selection of the concessionaire although remains to be approved by the state government before land is allotted to it for the development of the project, according to an official.
Bayview Projects was competing against Super Cassettes Industries Private Limited (T-series), Supersonic Technobuild Private Limited (backed by film star Akshay Kumar, Maddock Films, and others), and 4 Lions Films Private Limited (backed by filmmaker KC Bokadia and others) to develop the film city, considered a pet project of Uttar Pradesh Chief Minister Yogi Adityanath.
The Film City is to be built in a public-private partnership near the upcoming Noida International Airport. Under Phase-1 of the project, a total of 230 acres will be developed, which will include 75 acres (33%) of commercial and 155 acres (67 per cent) of industrial area.
The Authority had issued a global e-tender on September 29 to develop the film city on design, build, finance, operate and transfer (DBFOT) basis.
The initial global tender for the film city, initiated in November 2021, saw no response from bidders. Consequently, a second tender was issued in October 2022. Despite deadline extensions to February 14, 2023, February 28, 2023, and finally March 31, 2023, no bids were received.
With PTI inputs
