India Studio City to be built on 350 acre plot
LONDON — Indian film company Shree Ashtavinayak Cine Vision has teamed with LFS Media and Entertainment, a division of the LFS Group, to develop a rupees 150 billion ($3.3 billion) studio in Mumbai.
LFS has notified the Bombay Stock Exchange of its intention to float the venture.
India Studio City will be built in phases on 350 acres of land LFS has acquired in the Borivli neighborhood. The facility will have air-conditioned studios, fixed sets such as hospitals, roadways, airport interiors and Indian mansions, as well as a back lot for shooting, a theme park and hotels.
In January, Reliance Mediaworks opened the first phase of its seven-acre, eight-soundstage studio within Mumbai’s Film City.
Both new facilities will compete with Hyderabad’s Ramoji Film City, the world’s largest studio complex, spread over 2,000 acres.
Shree Ashtavinayak is one of India’s leading production and distribution companies. It produced two of Bollywood’s biggest hits of 2010, “Dabangg” and “Golmaal 3.”
LFS has interests in construction, power, chemicals and fertilisers, IT, telcos, healthcare, aviation, distilleries and financial services.