PTI

New Delhi: Frankfinn Aviation Services, which hived off its entertainment division into a separate entity, will foray into movie production with an outlay of about Rs 25-30 crore.

“Through the new company, we are looking forward to be a strong brand in movies and music in a couple of years,” Frankfinn Aviation Services (FAS) Chairman K S Kohli told PTI.

Primarily engaged in human resource training for aviation sector, FAS demerged its music production business into Frankfinn Entertainment Company Pvt Ltd in December 2006.

The company has set an initial target of producing at least three medium budget movies at a cost of around Rs 25-30 crore in next one year, he said.

“We will finalize the script in a week’s time and start shooting in July for a Rs 6-10 crore budget movie to be released early next year,” he said declining to give details about the cast and the director.

Kohli said the company plans to graduate into higher budget movies entailing around Rs 25 crore investment, if the venture takes off successfully.

“Our aim is to be one of the top three companies in movie production in next three years,” he said. The company has also bought home distribution rights of 50 Hollywood movies and will release VCDs and DVDs priced at Rs 30 each next month.

It ventured into the music production space in 2005 and released eight music albums, including Punjabi tracks and devotional songs. The firm roped in famous singers like Baba Sehgal and Pakistani Singer Ali Zafar and would launch around six new albums in the coming two months,” Kohli added.