MUMBAI: Shree Ashtavinayak Cine Vision has joined hands with LFS Media & Entertainment (of LFS Group) to develop India Studio City in the heart of Mumbai with an investment of Rs 150 billion (Rs 15,000 crore).
According to the company, this is a backward integration exercise in creating a completely de-risked model. India Studio City will provide a platform for the entire film making process offering all sorts of services and also the entertainment in the form of theme parks as well as hospitality services and hotels.
The project will comprise air conditioned shooting floors, fixed sets like hospitals, roadways, airport interior, havellis, back lot with open areas for shooting, theme park, hotels and all structures required for film making.
Shree Ashtavinayak Cine Vision managing director Dhilin Mehta said, “It will be an attraction as a major tourist destination providing Indian and foreign film makers with the best scale technology to realize world class results along with better economies with the view to increase India’s development and growth specifically in the area of entertainment and tourism.”
The basic land infrastructure has been acquired by LFS Group and the project will be developed in around 300-350 acres.