YEIDA invites global bids for International Film City's Initial Phase

The Yamuna Expressway Industrial Development Authority (YEIDA) has recently issued a global tender for the third time, inviting investors and production houses to participate in the development, operation, and maintenance of the initial phase of the International Film City in Sector 21. This initiative operates on a public-private partnership (PPP) model. Unlike previous attempts where bids were sought for the entire 1,000-acre project, this tender specifically pertains to the first phase, spanning 230 acres. The previous lack of interest from investors was largely attributed to the substantial investment required. The bidding process commenced on September 30, and interested parties have until November 30 to submit their applications. A pre-bid meeting has been scheduled for October 26. As per the tender document, technical bids are anticipated to be unveiled on December 5. In this initial phase, 230 acres of land will be utilised, with 155 acres allocated for industrial purposes and the remaining 75 acres for commercial use. The industrial segment will feature film studios, a film institute, post-production facilities, and other film-related developments. Meanwhile, the commercial aspect will encompass projects in hospitality and entertainment, including an amusement park. The estimated project cost is approximately Rs 15 billion. A YEIDA official stated that the entire project must be completed within eight years, with the industrial portion expected to be operational within three years. This initiative signifies a significant step forward in the region's film and entertainment industry.