Compact Disc to set up India's first Integrated Animation Studio at KINFRA

Compact Disc India Ltd on August 09, 2007 has announced that it will set up India's first Integrated state-of-the-art Animation studio at the Kerala Industrial Infrastructure Development corporation (KINFRA). KINFRA is India's first SEZ developed exclusively for Animation & Gaming.

The Company will invest an initial capital of USD 12.40 million to set up an Animated Studio that will house the latest technology in Animation, from modern high end Workstations, Softwares, Render Servers, Central Storage, Motion Capture, Telecine, Editing and Compositing System, Colour Grading, Sound Recording & Dubbing Facilities, Projection Systems, Blue Screen Facilities, Pre-view Theatre etc will be installed at the Studio. 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 Company Studio.

Commenting on the project, Mr. Suresh Kumar, Chairman, of the Company, said that "This is a significant milestone for the Indian Animation industry, as for the first time a state-of-the art Integrated Animation Studio will be set up In India that will host advanced high-tech amenities to facilitate CDI and other Animation film production houses to produce and develop their 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."

Mr. Kumar further opined that "The KINFRA SEZ for Animation & Gaming, will give boost to this nascent industry through tax cuts, no duties levy on machinery, free exports etc, thus ensuring an additional profit of 8-10%, which is the need of the hour for the Animation Industry in India. We are indeed thankful to the Kerala Government for promoting Animation & Gaming in India, through this exclusive SEZ."

The Animation Studio will be spread out over a space of 60,000 sq feet and will employ a talent of more than 300 people. Since the studio construction will commence by October 2007, the Company has requested KINFRA SEZ authorities to provide space on lease rental basis in their Incubation Centre to start operations immediately.

Source : Equity Bulls

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