The Yamuna Expressway Industrial Development Authority for the third time has released a global tender, seeking producers and investors to invest in, run, and maintain the International Film City’s first phase in Sector 21 using a public-private partnership (PPP) model.
This time, only the first phase’s development, which would cover 230 acres, has been put out to tender. The Authority has previously issued two requests for proposals for the development of the full project on 1,000 acres. However, due to the substantial investment required, no one has truly shown interest in the proposal.
The tender document states that the bids were opened on September 30 and that the application deadline is November 30. The project’s pre-bid meeting will take place on October 26.
A YEIDA representative claims that the technical bids will probably be opened on December 5. According to him, just 230 acres of land would be used for the project’s first phase of development, of which 155 will be used for industrial purposes and the remaining 75 for commercial ones.
The industrial aspect of the project will comprise the development of film studios, a film institute, post-production facilities, and other film-related developments, while the commercial part will include activities such as hospitality projects, amusement parks, etc. An estimated Rs1500 Crore will be spent on the project.
The project will need to be finished in eight years, the official said, and the industrial part of the development will be finished in three years.
