Greater Noida, (UNI) Producer-director Boney Kapoor and real estate developer Bhutani Group on Tuesday bagged the contract to develop the International Film City near the upcoming Noida International Airport in Uttar Pradesh.
Financial bids for this project were opened on Tuesday, in which Bayview Projects LLP, the joint venture of Boney Kapoor and Bhutani Group, secured the project by submitting the highest bid with an 18 percent gross revenue share.
The selection criteria emphasised that among technically eligible institutions the one offering the maximum gross revenue share to the authority would be chosen as the successful bidder.
During the financial bid process, companies competed based on the percentage of gross revenue share they were willing to offer. Bayview Projects LLP emerged as the successful bidder with a bid of 18 percent. In comparison, 4 Lions Films Private Limited proposed 15.12 percent, Supersonic Technobuild Private Limited Ltd bid at 10.80 percent and Super Cassettes Industries put forward a bid of 5.27 percent.
CEO of YEIDA Arunveer Singh said that the gross revenue share signifies that the company, after the development of Film City, will contribute 18 percent of its earnings to the authority. In addition to providing the land, the authority will offer other necessary infrastructure, while the company is responsible for all the construction and development of facilities within the Film City itself.
The tender has been submitted by Bayview Projects LLP in consortium with 2 other firms. Within the consortium, Bayview Projects LLP holds a 48 percent stake and is responsible for operational and maintenance tasks.
Parmesh Construction Company Limited, owned by Prem Bhutani and Ashish Bhutani, possesses a 26 percent share, focusing on financial aspects. The remaining 26 percent shares belong to Noida Cyberpark Pvt. Ltd., which plays a role in providing technical support.
As per the PPP Guidelines, the financial bids submitted by the entities will be presented to the Committee of Secretariat along with the recommendation of the PPPBEC Committee. Upon approval from the Cabinet based on the committee’s recommendation, the successful bidder with the highest bid will receive a Letter of Award.
Boney Kapoor, Ashish Bhutani, CEO Bhutani Infra, Ashwini Chatelain and Ali Chatelain, Rajeev Arora, Arvind Kumar Bini made a presentation on behalf of BYVE Projects LLP. Apart from this, on behalf of Four Lions Films Pvt Ltd, KC Bokadia gave the presentation. Film actor Akshay Kumar also gave a presentation on behalf of Supersonic Technobuild Pvt.
UP Chief Minister Yogi Adityanath has issued directives to launch the Film City project within the next 6 months. The proposed location for the Film City is Sector 21, covering a vast expanse of one thousand acres of land. The initial development phase will focus on 230 acres of land. Yamuna Development Authority officials have specified that the company responsible for constructing the Film City in the first phase will receive priority consideration for the subsequent second phase as well.
