December 2, 2021

The World Stock Markets Tips & Targets, News, Views & Updates

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Yamuna authority to invite bid for development of Film City near Jewar airport

The Yamuna Expressway Industrial Development Authority (YEIDA) will soon invite bids for the construction of a 1,000-acre film city near the upcoming Jewar airport in Uttar Pradesh. The project will entail an investment of Rs 10,000 crore.

The Uttar Pradesh government on Saturday approved the draft RFP, RFQ and concession agreement prepared by the international property consultant CBRE, paving the way for the bid process to move on.

“We will issue the bid on Monday and will conduct the pre-bid meeting on December 8,” said Arun Vir Singh, CEO of the authority. “This will be executed on a public-private partnership model.”

CBRE has proposed that the project be completed in three phases, with the first phase to be developed on 230 acres and completed by 2024.

“The proposed land is located at Sector 21 on Yamuna Expressway, 4 km from Jewar airport, and there is no issue of connectivity, as we are connecting Jewar airport with Delhi-Mumbai expressway and the bullet train,” said Singh. “There will be a pod taxi to connect Jewar airport and film city.”

CBRE has said the entire project should be completed by 2028-29.

The objective of the project is to provide an integrated media infrastructure for the movie business value chain.

The concession period will be for 40 years, which will be extendable for another 30 years. The selected company will pay an annual premium or revenue share, whichever is higher, to the authorities.

The proposed 1,000-acre site includes 740 acres for filming, 40 acres for film institutes, 120 acres for an amusement park and retail, and the remaining 100 acres for commercial use.

Chief minister Yogi Adityanath had unveiled a plan to set up a dedicated infotainment city and rolled out an open offer to the film fraternity to come to the state.

Adityanath had said the government is well aware of the trend of OTT and media streaming platforms and has planned a high-capacity data centre along with all pre-production and the post-production infrastructure, processing labs, VFX and digital technology of international level.

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