The Yamuna Expressway Industrial Development Authority (YEIDA) recently reinvigorated its efforts to attract investors for the International Film City project in Noida, with a third global tender floated on September 30. This time around, there appears to be a heightened response from the entertainment industry, as insiders revealed that prominent actors Akshay Kumar and Kangana Ranaut discreetly visited the project site in Sector 21 along the Yamuna Expressway. Furthermore, representatives from producer Boney Kapoor’s production house and actor Ajay Devgn’s team have also expressed interest in the proposed film city.
Speaking anonymously, a YEIDA official disclosed Moneycontrol, “Akshay and Kangana visited the project site in Sector 21 around the first weekend of this month. It was a secret visit. They are yet to formally apply for the tendering process.” No immediate response has been received from the filmmakers and actors regarding these developments, but any forthcoming statements will be incorporated into this report.
YEIDA had previously faced difficulty attracting bidders, with the first two global tenders aimed at developing the entire 1,000-acre film city project yielding no results. Consequently, the latest tender focuses solely on the development of the first phase, covering 230 acres. Beyond Bollywood-related companies, international firms like Universal and Sony have displayed interest in participating in the project’s first phase.
The official also disclosed that “Filmmakers, production houses, and other film-related firms, which have shown interest in the project, have been advised to participate in the global tender to develop, operate and maintain the first phase of the film city.” The last date for bid applications is November 30, with a pre-bid meeting scheduled for October 26.
In a bid to enhance the appeal of the project and attract potential investors, the Uttar Pradesh government has made various modifications, including extending the concession period from 60 to 90 years. Out of the designated 230 acres, 155 will be dedicated to industrial use, while the remaining 75 acres will be earmarked for commercial purposes. The estimated development cost for this initial phase is Rs 1,500 crore.
Global representatives of companies like Sony and Universal are expected to meet with high-ranking YEIDA officials later this month. Technical bids for the project are slated to be opened on December 5. This renewed enthusiasm from investors could signify a turning point for the ambitious UP Film City project.