For the first time in India, Chandigarh-based Compact Disc India Ltd (CDIL), an integrated media and entertainment company, will animate a true love story titled Eternal Love in English which will revolve around the Taj Mahal.
The company has secured an animation outsourcing contract worth $15.70 million from a Los Angeles-based firm through its arm Mediaone Ventures Ltd for the film which is slated to be released in December 2009. Internationally acclaimed celebrities will be involved in this ambitious film project.
Commenting on the project, Suresh Kumar, chairman, CDIL, said, "This is a milestone for us and an important achievement for the Indian animation industry. The history of the Taj Mahal is deeply rooted in culture and heritage of India. Besides, as this architectural masterpiece and we are proud to be associated with this project. This association reflects the confidence in our ability to produce an animated film of superior quality, using state-of-the art technology. Also, we are the largest animation outsourcing company in South Asia and the signing of this project will help maximise our growing international business opportunities."
Eternal Love, the love story of Mumtaz Mahal and Emperor Shahjahan that revolves around the Taj Mahal, is a tribute to a beautiful woman and a monument of enduring love. Kumar added that work on the project will start by April 2008 and the first drafthas already been made.
Commenting upon expansion plans, he said, "We have plans to set up an animation-cum-gaming studio with the major thrust being on gaming. We have applied for one acre of land in the Chandigarh Technology Park and also in the Panchkula (Haryana) IT park. We will set up the studio wherever the government allots us land. We have earmarked Rs 60-70 crore, funded through internal accruals and term loans, for the project."
The company acquired a Russian mobile gaming company Mobsoft for $7 million in April this year and very soon the firm will float a new company in Chandigarh.
Recently, Department of Information and Technology, Madhya Pradesh, allotted five acres of industrial land to the company for setting up an animation studio at the IT Park in Bhopal.
The estimated investment by the studio is Rs 57.20 crore. It has also entered into an agreement with the Rajasthan State Industrial Corporation Ltd for setting up a studio at Kath Kalwar in Jaipur.
The agreement was signed at the recently-conducted Resurgent Rajasthan Partnership Summit at Jaipur, organised by the Rajasthan government in collaboration with FICCI. The Company is hopeful of achieving a sales turnover of over Rs 103 crore this fiscal year.