LUCKNOW: The Yamuna Expressway Industrial Development Authority (YEIDA) is likely to float the global tender to onboard a film production house to develop the Film City project around Diwali after Yogi Cabinet approved the revised Detailed Project Report (DPR) on Thursday. The project is planned over 1,000-acres of land in Sector 21 along the Yamuna Expressway, close to the Jewar airport site.
As per the YEIDA sources, the UP cabinet approved the revised DPR and the global tender to finalise the developer of the project. The revised DPR was placed before the cabinet for approval after getting clearance from a high-level committee headed by UP chief secretary DS Mishra, said sources.
As per the revised DPR, the developer would have to shell out Rs 144 crore as security money before commencing the work on the project site. The developing firm would get 90-year licence of the film city instead of 40 years as was provided earlier. The developer would also be given the leverage of making changes in the design.
The budget of the project has also been revised from Rs 10,000 crore to Rs 7,210 crore. The committee has expanded the ambit of tender process allowing OTT platforms, broadcast, media entertainment and institutes concerned to take part in tender process. Earlier, only the companies engaged in film production were allowed to participate.
The Film City will be developed in four phases and the developer will be required to finish Phase 1 in four years.
Notably, YEIDA had floated a global tender in November last year but failed to select a suitable developer because only one agency had applied for the bid and it did not fulfil the required terms and conditions. Following this, the authority and the state government decided to revise the DPR.
Developing firm to get 90-year licence of City
As per the revised Detailed DPR, the developer would have to shell out Rs 144 crore as security money before commencing the work on the project site. The developing firm would get 90-year licence of the film city instead of 40 years as was provided earlier. The developer would also be given the leverage of making changes in the design. The budget has been increased to Rs 7,210cr.