Helmer Anant Singh’s Dreamworld Film City consortium will develop the Western Cape’s new studio complex in cooperation with rival bidders iKapa Films and Cape Town Motion Picture Studios.
This was one of the conditions set by Ebrahim Rasool, the Western Cape’s economic development minister.
The Dreamworld consortium includes Singh’s VideoVision Intl. group and Midi-TV, major shareholder in commercial terrestrial broadcaster e.tv.
The Development Bank of South Africa and the Industrial Development Corp. will probe the financial viability of the proposal, as the consortium has secured private investors “that will significantly change the financial structure of the enterprise.”
Dreamworld wants to open the film city on farmland near Cape Town by 2005. Phase one includes eight soundstages, production and digital facilities and outdoor back-lot areas.