Boney Kapoor's firm wins bid to develop Film City project in Noida

Filmmaker Boney Kapoor's Bayview Projects LLP and Bhutani Group will jointly develop the Film City project in Noida's Sector-21, near Jewar airport, as they placed the highest bid, surpassing the other three players, officials said.

"The committee of officials of the Yamuna Expressway Industrial Development Authority (YEIDA) opened the financial bids. The Bayview Projects LLP and Bhutani Group placed the highest bid, promising the maximum 18 per cent share of the profit to the government, thereby becoming eligible for developing this project. Lions Films Private Limited of KC Bokadia quoted 15.12 per cent while Supersonic Technobuild Private Limited of actor Akshay Kumar and Super Cassettes Industries Private Limited of T-Series placed 10.80 per cent and 5.12 per cent respectively," officials added.

Arun Vir Singh, Chief Executive Officer, YEIDA, said, "Following the guidelines of the public-private partnership, the proposed bids will be presented before the committee of secretaries, and subsequently, they will be forwarded to the state government cabinet for the necessary approvals."

"Once the Cabinet gives its approval, the highest bidder will receive the letter of award," Singh added.