Akshay Kumar, Boney Kapoor-backed firms in race to develop UP’s Film City
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3 months ago 06:00:02am Television

Akshay Kumar, Boney Kapoor-backed firms in race to develop UP’s Film City

New Delhi, 29-January-2024, By IBW Team

Akshay Kumar, Boney Kapoor-backed firms in race to develop UP’s Film City

All 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 (on the outskirts of New Delhi), officials said on Saturday.

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 for the greenfield project to the officials of the Uttar Pradesh government, a PTI report stated.

The programme 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.

Akshay Kumar, part of Supersonic Technobuild, joined the presentation virtually, while Boney Kapoor, associated with Bayview Projects, among others, was present at the Yamuna Expressway Authority office in Greater Noida, officials said.

“All four bidders have qualified on technical grounds and now the financial bid for the International Film City concessionaire, or developer, will be opened on January 30 at 2.30 pm,” Bhatia told PTI.

“The project is being developed on public-private partnership (PPP) model. The company offering the highest revenue share to the state government will be selected as the developer for the greenfield project,” the official said.

Bhatia, who is also the Additional CEO of the local Yamuna Expressway Authority, said after the financial bids are opened, the proposal of the selected concessionaire would be sent to the State government for approval.

“Once that approval is received, land would be allotted to the concessionaire after due formalities and work for the project’s construction begin,” he added.

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.

(Photos courtesy Akshay Kumar & Boney Kapoor Instagram accounts)

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