Noida (Uttar Pradesh) [India], filmmaker Boney Kapoor and Bhutani Group-backed firm Bayview Bhutani Film City Pvt. Limited. Ltd. on Thursday signed a concession agreement with the Yamuna Expressway Industrial Development Authority (YEIDA) for the development of Noida International Film City.
Boney Kapoor told the media, "This is my life's mission - to make the international film city."
"This is a unique opportunity for the film industry. We will try to create an international film city..." he added.
In January, producer-director Boney Kapoor and real estate developer Bhutani Group bagged the contract to develop International Film City near the upcoming Noida International Airport in Uttar Pradesh.
Producer-director Boney Kapoor and real estate developer Bhutani Group have bagged the contract to develop 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 a gross revenue share of 18 per cent," according to a press release. from the Chief Minister's Office.
The selection criteria emphasized that among the technically eligible institutions, the one offering the maximum share of gross revenue to the authority would be chosen as the successful bidder. Notably, actor Akshay Kumar was also vying for the project.
"During the financial bidding process, companies competed based on the percentage of gross revenue share they were willing to offer. Bayview Projects LLP emerged as the winning bidder with a bid of 18 per cent. In comparison, 4 Lions Films Pvt Ltd proposed 15.12 per cent. per cent, Supersonic Technobuild Pvt Ltd bid for 10.80 per cent and Super Cassettes Industries Pvt Ltd bid for 5.27 per cent,” the statement said.
Arunveer Singh, CEO of YEIDA, explained that the gross revenue share means that the company, after the development of Film City, will contribute 18 per cent of its profits to the authority. Apart from providing the land, the authority will also provide other necessary infrastructure, while the company is responsible for all construction and development of facilities within the Film City itself.
"The tender has been floated by Bayview Projects LLP in consortium with two other companies. Within the consortium, Bayview Projects LLP holds a 48 per cent stake and is responsible for operational and maintenance tasks. Parmesh Construction Company Limited, owned by Prem Bhutani and Ashish Bhutani owns a 26 per cent stake, focusing on financial aspects. The remaining 26 per cent belongs to Noida Cyberpark Pvt Ltd, which plays a role in providing technical support," the statement said.
In accordance with the PPP Guidelines, the financial offers submitted by the entities will be presented to the Secretariat Committee along with the recommendation of the PPPBEC Committee. Upon Cabinet approval based on the committee's recommendation, the selected bidder with the highest bid will receive a Letter of Award.
"On Sunday, representatives of the four companies competing for the Yamuna Expressway Industrial Development Authority's International Film City project gave a presentation. The presentation focused on the vision, concept, schedule and highlights "The four companies were considered technically qualified and proceeded to the financial bidding stage," the statement said.
Boney Kapoor, Ashish Bhutani, CEO Bhutani Infra, Ashwini Chatelain and Ali Chatelain, Rajeev Arora and Arvind Kumar Bini made a presentation on behalf of BYVE Projects LLP. Additionally, on behalf of Four Lions Films Pvt Ltd, KC Bokadia made the presentation. Film actor Akshay Kumar also made a presentation on behalf of Supersonic Technobuild Pvt. Limited.
"Uttar Pradesh Chief Minister Yogi Adityanath has issued directives to launch the Film City project in the next six months. The proposed location for Film City is Sector 21, which covers a vast expanse of one thousand acres of land," it said. states in the statement.
The initial development phase will focus on 230 acres of land. Yamuna Development Authority officials have specified that the company responsible for building Film City in the first phase will also be given priority consideration for the subsequent second phase.
Boney Kapoor told the media, "This is my life's mission - to make the international film city."
"This is a unique opportunity for the film industry. We will try to create an international film city..." he added.
In January, producer-director Boney Kapoor and real estate developer Bhutani Group bagged the contract to develop International Film City near the upcoming Noida International Airport in Uttar Pradesh.
Producer-director Boney Kapoor and real estate developer Bhutani Group have bagged the contract to develop 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 a gross revenue share of 18 per cent," according to a press release. from the Chief Minister's Office.
The selection criteria emphasized that among the technically eligible institutions, the one offering the maximum share of gross revenue to the authority would be chosen as the successful bidder. Notably, actor Akshay Kumar was also vying for the project.
"During the financial bidding process, companies competed based on the percentage of gross revenue share they were willing to offer. Bayview Projects LLP emerged as the winning bidder with a bid of 18 per cent. In comparison, 4 Lions Films Pvt Ltd proposed 15.12 per cent. per cent, Supersonic Technobuild Pvt Ltd bid for 10.80 per cent and Super Cassettes Industries Pvt Ltd bid for 5.27 per cent,” the statement said.
Arunveer Singh, CEO of YEIDA, explained that the gross revenue share means that the company, after the development of Film City, will contribute 18 per cent of its profits to the authority. Apart from providing the land, the authority will also provide other necessary infrastructure, while the company is responsible for all construction and development of facilities within the Film City itself.
"The tender has been floated by Bayview Projects LLP in consortium with two other companies. Within the consortium, Bayview Projects LLP holds a 48 per cent stake and is responsible for operational and maintenance tasks. Parmesh Construction Company Limited, owned by Prem Bhutani and Ashish Bhutani owns a 26 per cent stake, focusing on financial aspects. The remaining 26 per cent belongs to Noida Cyberpark Pvt Ltd, which plays a role in providing technical support," the statement said.
In accordance with the PPP Guidelines, the financial offers submitted by the entities will be presented to the Secretariat Committee along with the recommendation of the PPPBEC Committee. Upon Cabinet approval based on the committee's recommendation, the selected bidder with the highest bid will receive a Letter of Award.
"On Sunday, representatives of the four companies competing for the Yamuna Expressway Industrial Development Authority's International Film City project gave a presentation. The presentation focused on the vision, concept, schedule and highlights "The four companies were considered technically qualified and proceeded to the financial bidding stage," the statement said.
Boney Kapoor, Ashish Bhutani, CEO Bhutani Infra, Ashwini Chatelain and Ali Chatelain, Rajeev Arora and Arvind Kumar Bini made a presentation on behalf of BYVE Projects LLP. Additionally, on behalf of Four Lions Films Pvt Ltd, KC Bokadia made the presentation. Film actor Akshay Kumar also made a presentation on behalf of Supersonic Technobuild Pvt. Limited.
"Uttar Pradesh Chief Minister Yogi Adityanath has issued directives to launch the Film City project in the next six months. The proposed location for Film City is Sector 21, which covers a vast expanse of one thousand acres of land," it said. states in the statement.
The initial development phase will focus on 230 acres of land. Yamuna Development Authority officials have specified that the company responsible for building Film City in the first phase will also be given priority consideration for the subsequent second phase.