Russia rushes new studio

Glavkino supported by main investor Tsvetkov

MOSCOW — Russia’s fast-developing film industry looks set to have a new studio facility soon.

Dubbed Glavkino, the venture will be supported by main investor Nikolai Tsvetkov, who heads the powerful UralSib bank.

Tsvetkov will partner with leading local helmer Fyodor Bondarchuk on the project, which is under construction in the Krasnogorsk region outside Moscow.

Investment in the project, which includes TV and film facilities as well as other general purpose units, will run to a reported $300 million.

Roughly 30% of the final venture will be assigned to Bondarchuk and associated partners in his Art Pictures studio, with approximately 40% pledged to local banking lender, VTB.

Bondarchuk’s involvement should up the prestige of facility — his “9th Company” was the top box office grosser in Russia three years ago.

The helmer is concluding post-production on sci-fi adaptation “The Inhabited Island,” Russia’s most expensive film project to date, with a budget of more than $40 million.

The first part of the two-film project will be released in December, with a concluding sequel skedded for distribution a year later.

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