Compact Disc to invest Rs 20 cr in setting studios in Chennai, T'puram

To expand its animation business, Chandigarh-based Compact Disc India Ltd, engaged in multimedia and entertainment production, is setting up studios in Chennai and Thiruvananthapuram with a total project cost of Rs 20 crore.

This will be the company's first set-up in India, and currently it has studios in Malaysia and Singapore.

Speaking to Business Standard, Compact Disc Chairman Suresh Kumar said: "In order to meet the demand, we are setting up two studios in Chennai and Thiruvananthpuram. Work on the Chennai studio will be completed in three months whereas the Thiruvananthapuram studio will take 12 months for completion."

The company has been allotted 1 acre in the SEZ at Thiruvananthapuram for setting up the studio.

He added the company had bagged an order worth $40 million for animation work from different companies. So in order to complete the projects in time, it was necessary to set up studios in India, he added.

Also, the company is producing two big-budget Hollywood films--"Guru of Sex" and "Tennessee" (a place in New York)--jointly with Imedia Ventures Ltd.

"Guru of Sex" is written by eminent writer Farrukh Dhondy, based in London. The total production cost will be $22 million. Work on this movie is likely to start by April next year and most probably it will be completed by December next year.

"Tennessee" is being produced jointly with Lee Daniels (a New York-based production company). Famous rock singer Mariah Carey will perform in the movie. It will cost $6 million to produce this movie by June.

Recently, the firm has started construction for setting up a multimedia knowledge park in Uttaranchal with an investment of Rs 500 crore. It has floated a fully owned subsidiary called Laser Infomedia Ltd to implement the project.

Kumar said the animation studio at the knowledge park would serve as a practical lab.