Noida: Bid Documents to Prepare City Films in Sector 21 Off The Yamuna Expressway Ready.
The total cost of the project is estimated at 10,000 crore rs.
Of the 1,000 hectares intended for this project, 75% will be used to arrange filming facilities.
The remaining area will have an amusement park and other recreational facilities.
On Monday, the authority of the Yamuna Expressway Industry Development (YEIDA) continued the supply and concession agreement documents to the state government to be approved.
The source said the tender would float before Diwali.
BID Documents for City Films, the Minister of the MINISTER PET project, has been prepared by CBRE.
It also compiled concession agreements and qualification reports requests.
The documents were handed over to Yeida on October 14.
“We are through a bidding document and concession agreement to check whether all terms and conditions have been mentioned correctly or not.
On Monday, we forward it to the state government after checking it carefully,” said Arun VIR Singh, Yeida Chief Executive.
The city of film is being planned under the public-private partnership model on the Noida International Airport project.
While Yeida will provide equity in the form of 1,000 hectares, the company chosen through a tender process will be needed to raise money and implement the project.
Companies that implement projects will be selected on technical and financial reasons.
Both domestic and international players with experience in handling these projects will be considered during the evaluation process.
The state government, meanwhile, will involve experts to look closer to the feasibility, the gap of the viability and the legality of all agreements at different stages.
Experts will also examine technical feasibility and evaluate penalties for violations, compensation clauses, dispute resolution mechanisms, law and jurisdiction, financial evaluation, etc.
To be developed at 1,000 hectares, film films will be developed in two phases.
“We want to provide all the facilities, facilities, and infrastructure along with amusement parks in the first phase.
Whatever is needed to produce quality films and images will be provided in film films,” said a senior government official.
According to estimates prepared by the consultant, the infusion of more than Rs 6,500 Crore will be needed to develop the first phase of the project.