3 cos respond to Filmcity upgrade plan

Mumbai: Three bidders have come forward for a Rs 2,550 crore proposal to redevelop and upgrade Filmcity City in Goregaon, officially called the Dada Saheb Phalke Chitranagari, a senior official said Saturday.

The built-operate-transfer (BOT) plan has been in the works since 2011 and global tenders were floated on July 19 last year, the bidding deadline for which was extended till April this year. “So far three bidders, namely Reliance Industries, Reliance Entertainment and Bhanot Infra Venture, have responded to the project. The bidding criteria includes fixed lease rent for a 60-year period and revenue sharing,” said Chandrakant Kolekar, deputy engineer, Filmcity. “The bidder sharing the maximum revenue on its gross income will win. The government’s investment will only be handing approximately 450 acre land to the private company (winning the bid),” he added.

“The companies have raised some issues related to tender conditions and fixed lease rent which are being looked into. If necessary, fresh bids will be floated,” Mr Kolekar said.

Mr Kolekar said Filmcity, set up in 1977, currently has 15 indoor studios and over 40 outdoor locations.