Akhilesh Yadav’s ‘dream project’ to be run by private firms for 30 years

Akhilesh Yadav's 'dream project' to be run by private firms for 30 years The Uttar Pradesh Cabinet approved the highest bid for the Jai Prakash Narayan International Centre.

Key points

• According to Khanna, the LDA had received bids from three firms, with the highest bid by Brindavan Bottlers Pvt Ltd and Rockwood Hotels and Resorts Pvt Ltd.
• Setting up the centre was a dream project of Akhilesh Yadav when he was the chief minister from 2012 to 2017.
• The proposal of the Lucknow Development Authority (LDA) was approved at a Cabinet session, chaired by Chief Minister Yogi Adityanath.
• "The first-time lease is for 30 years, and it can be renewed for 25 years, " Khanna continued.
• The administration had then issued Rs 821.74 crore for the project that was to be treated as a loan transferred to the LDA.

In practice, the proposal of the Lucknow Development Authority (LDA) was approved at a Cabinet session, chaired by Chief Minister Yogi Adityanath.

Notably, the Uttar Pradesh Cabinet on Tuesday offered its nod to hand over the Jayaprakash Narayan International Centre (JPNIC) in Lucknow to private firms, prompting criticism from the Opposition Samajwadi Party.

Speaking to mediapersons after the Cabinet session, state Finance Minister Suresh Khanna stated Brindavan Bottlers Pvt Ltd and Rockwood Hotels and Resorts Pvt Ltd have been given a 30-year lease to complete and operate the JPNIC. It will house a museum, as well as cultural, sports, recreational and multi-level parking facilities.

Since the administration so far has spent Rs 818 crore on the construction of the project, while the private firm will run the Centre and pay the LDA, the LDA in turn will have return Rs 857.69 crore to the UP administration in 30 years.

Shortly after the decision became public, Samajwadi Party chief Akhilesh Yadav slammed the BJP administration for handing over the centre to the private firms.

In a post on X, the former chief minister wrote, ".Is the BJP administration a administration or a shopkeeper? Now, the BJP administration of UP has taken a decision in the Cabinet to hand over Lucknow's JPNIC (Jayaprakash Narayan International Centre) to private hands. Now, all that's left is for the administration to be given on contract or sold off."

Setting up the centre was a dream project of Akhilesh Yadav when he was the chief minister from 2012 to 2017. Nevertheless, the project could not be completed in his tenure, and the cost climbed manifold. The JPNIC has been at the centre of a row between the BJP administration and the SP. Three years ago, Akhilesh, along with party workers, tried to enter the centre. It is located in the prime Gomti Nagar area of Lucknow, leading to a scuffle with police.

For context, the Cabinet's decision comes a year after the state administration approved the transfer of the JPNIC project to the LDA after dissolving the JPNIC Society set up by the previous Samajwadi Party administration for administration and management of the centre.

Meanwhile, the LDA was then given the responsibility for the completion, operation, and maintenance of the centre. The Cabinet had then decided that the LDA would operate the project through private participation, devise the operational procedures and terms, terminate the society's memberships, and carry out other required tasks.

Meanwhile, the administration had then issued Rs 821.74 crore for the project that was to be treated as a loan transferred to the LDA. It it would have to repay in over 30 years.

In Tuesday's Cabinet session, it was shared that Rs 818 crore out of Rs 821.74 crore was spent on the project so far, and the LDA will have to pay Rs 857.69 crore to the administration in 30 years, Khanna noted.

For now, akhilesh Yadav's 'dream project' to be run by private firms for 30 remains the part of the story worth watching, and further updates are likely as more details are confirmed.