Chandigarh firm plans animation, gaming studio

Chandigarh-based Compact Disc India Ltd (CDIL), an integrated media and entertainment company, plans to set up an animation-cum-gaming studio in the northern region with an investment of Rs 50 crore spread over 1 acre.

However, the location is yet to be finalised but it may be either in Chandigarh, Panchkula (near Chandigarh) or Mohali (Punjab).

Speaking to Business Standard, CDIL Managing Director Gautam Seengal said: "We have plans to set up an animation-cum-gaming studio with major thrust on gaming. We have applied for 1 acre of land in Chandigarh, Panchkula and Mohali. Out of these three location, the proposed studio would come up wherever the government allots us land. We have earmarked Rs 50 crore, funded through internal accruals and term loans, for the project. The proposed studio is likely to employ 350-400 people."

After having acquired a Russian mobile gaming company "" Mobsoft "" for $ 7 million in April this year, he said very soon the company would float a new company in Chandigarh.

Recently, the company has signed an MoU with Rajasthan and Madhya Pradesh governments for setting up training-cum-animation centres. The company has been allotted 5 acres of land in each state for the proposed project.

Further, the company has secured an animation outsourcing contract worth $19.80 million from Los Angeles-based iMedia Ventures, a digital entertainment company.

As part of the deal, CDIL will animate a science fiction thriller film called 3,000 BC. Apart from this venture, CDIL is also working on 2D- and 3D-animation projects worth $40 million, outsourced by major international production houses.

Among other projects is Parallel Universe, a six-part television series funded by Malaysian Debt Ventures Bhd, and another animation film, called Hustle Bustle, with Interactive Creative Media Pte Ltd, Singapore for $12.45 million.

On the home front, CDIL has completed a full-length feature film, Friends Forever, in which a 3D-animated character, Zampano, interacts with live-action characters.

"Further, it has signed a deal worth a record $20.15 million with Motion Pixel Corporation, a production company from Los Angeles, to co-produce a 3D-animation film called Goaaaaal! As a part of the deal, CDIL will make the film in 21 months at its state-of-the-art studio in the Kinfra special economic zone in Thiruvananthapuram.

Another project on the life of Rajneesh Osho, titled Guru of Sex, is already on the roll.

In last financial year, the turnover of the company was Rs 50 crore and this year it is hopeful to touch Rs 103 crore.