Agreement between Boney Kapoor and YEIDA for Film City, investment of Rs 1510 crore, 10,000 jobs will be created.
Filmmaker Boney Kapoor’s company Bayview Projects and Yamuna Authority have signed an agreement on Thursday for the construction of Film City. The Film City is being constructed with an investment of at least Rs 1,510 crore and is expected to generate 10,000 jobs. Bayview Projects had won the bid on January 31 by offering 18 per cent revenue share to the Uttar Pradesh government. The agreement was signed by Boney Kapoor and Ashish Bhutani of Bhutani Group.
This film city will be near the country’s largest airport
The signing was done in the presence of Chief Executive Officer (CEO) of Greater Noida-based Yamuna Expressway Industrial Development Authority (YEIDA) Arun Veer Singh and Additional Chief Executive Officer Shailendra Bhatia at the authority’s office. Bhutani told PTI, “We will build the biggest film city, which will be near the country’s biggest airport. There will be an investment of at least Rs 1,510 crore in this.
10 thousand jobs will be created
The managing director of the Bhutanese group said that this new project will create 10,000 jobs. Bhatia, nodal officer of the project, told PTI, “With the agreement, part of the land for the first phase of Film City development has been handed over on concessional basis. Now they will start construction work there.” He said that the major construction work is expected to be completed by 2027. While the remaining work will be done after that. YIDA, a Uttar Pradesh government undertaking, manages the land along the 165-km Yamuna Expressway. Film City is a public-private partnership (PPP) project.
Construction will be done on 1000 acres of land
The Film City will be built on 1,000 acres of land in a public-private partnership in Sector-21, YEIDA, along the Yamuna Expressway near Noida. In the first phase, work will be done on about 230 acres of land. Of the 1,000 acres of land, 220 acres are for commercial and 780 acres for industrial use.
