New Delhi: Compact Disc India (CDI), India’s leading integrated media and entertainment company will invest $12.40 million (Rs49.60 crore) to set up India’s first modern integrated state-of-the-art animation studio at the Kerala Industrial Development Corporation (Kinfra).
It estimates a 300% increase in productivity and revenue through the studio and Kinfra film and video park in Kerala which is the first SEZ in the country exclusively for animation and gaming
CDI will invest an initial capital of $12.40 million to set up the animated studio that will house the latest technology in the following areas:
* Modern high end workstations
* Software, render servers, central storage, motion capture, telecine, edition and compositing system
* Colour grading, sound recording and dubbing facilities
* Projection systems, blue screen facilities and pre-view theatre
This state-of-the-art studio will be the first ever in India, that will enable producers of animation films to avail the exclusive opportunity to completely produce their film at just one studio, rather than at different studios, which lack the requisite expertise and technology. Right from the story board to the digital film format can be developed at the CDI Studio.
Commenting on the project, Suresh Kumar, Chairman, CDI, said “This is a significant milestone for Indian animation industry. For the first time a state-of-the art integrated animation studio will host advanced high-tech amenities to facilitate animation film production houses to produce and develop films at just one studio. In the first stage of production, we aim to develop three animation films in partnership with renowned international media agencies and with MNCs.”
He also informed that the Kinfra SEZ for animation and gaming, will boost this nascent industry through tax cuts, no duties levy on machinery, free exports etc, thus ensuring a profit of 8-10%. He thanked the Kerala Government for promoting animation and gaming through this exclusive SEZ.
The studio will be spread out over a space of 60,000 sq feet and will employ a talent of more than 300 people.