Panaji: Entertainment Society of Goa has decided constructed an upgraded version of its multiplex by demolishing the structure which was constructed during first IFFI in the year 2004.
The four screen multiplex which is leased out to INOX Leisure Private Limited will be demolished in March to make way for the new structure of international standards, ESG Vice Chairman Subhash Faldesai said.
The ESG had invited bids for construction of multiplex at the same place for which two bidders – PVR Cinema and INOX Leisure Private Limited had bidded.
Faldesai said that PVR Cinema was disqualified for “not furnishing work experience.” The promoters of PVR Cinema had even approached High Court against the process, but ESG won the case.
The current structure would be “fully demolished”, Faldesai said adding that the new structure would be constructed on Built-Own-Transfer basis within next six months.
Faldesai said that the structure would be taken up for demolition in March for which INOX has kept a depoisit of Rs four crore with the government.
As per the agreement, INOX will construct international standard multiplex with four screens and will run it for 12 years.
After completion of new structure, INOX will pay Rs 54 lakh per month to ESG as against the Rs 20 lakh per month paid till now.
Faldesai said that there will be five per cent year on year increase in the monthly charges paid by INOX to ESG.
The structure will be built on same area.
The multiplex was constructed in the year 2004 during first IFFI by then chief minister Manohar Parrikar demolishing the ruins of Old Goa Medical College.
Veer Zara was the first movie screened in this multiplex, which was state’s first such facility. The multiplex has been hosting IFFI annually besides showcasing the films on regular basis.