Revanth Reddy clarifies Salman Khan Ventures project is only expression of interest
Chief Minister A Revanth Reddy clarified that the Rs 10,000 crore township and film studio project announced by Salman Khan Ventures was only an expression of interest, with no formal agreement signed. The announcement comes amid controversy over land transfers, the Pharma City project, and forest land disputes that have drawn Supreme Court scrutiny.
Hyderabad: Chief Minister A Revanth Reddy on Thursday said that the proposed Rs 10,000 crore integrated township and film studio project announced by Salman Khan Ventures, during the Global Summit was only an expression of interest, and not a finalised investment.
Speaking informally to media persons, the Chief Minister said no agreement had been formalised so far. He explained that Salman Khan Ventures, along with some Middle East-based firms, had shown interest in the State government’s plan to develop a large sports arena in the proposed Future City.
The government plans to develop a sports arena spread over 500 to 600 acres, featuring cricket, football and tennis stadia, indoor sports facilities and a golf course. A Detailed Project Report (DPR) will be prepared, after which global tenders will be invited to execute the project.
Revanth Reddy clarified that no project would be awarded on a nomination basis and that all interested companies, including Salman Khan Ventures, would have to participate in the global bidding process. The State government would provide land and transfer the title to the successful bidder. No company will take interest if the land is not transferred in their name, he said.
The Chief Minister also outlined the broader Future City plan, which will include 11 to 12 verticals such as education, healthcare and tourism. An education zone will be spread across 500 to 600 acres, while a hospital zone will cover 200 to 300 acres. A Japanese company has shown interest in setting up an electric vehicle manufacturing unit on 1,000 acres.
He added that Emaar has proposed developing a 500-acre township comprising hotels, corporate offices and convention centres.
On land transfer, Revanth Reddy said forest lands cannot be allotted, but revenue lands can be transferred to investors. He stressed that land ownership is essential to attract large-scale investments.
The lands identified for Future City were originally acquired for the Pharma City project, for which around 12,000 acres were secured by the previous BRS government. While the Congress government announced that Pharma City was shelved in line with assurances to farmers, it has maintained in the High Court that the project continues.
Meanwhile, the Movement against Pharma City urged Global Summit participants not to trust the government and cautioned investors against making commitments. The MoU announcements also come amid controversy over the destruction of Kancha Gachibowli forest land, which led to Supreme Court intervention following criticism of the proposed auction of 400 acres near the University of Hyderabad.
