Hyderabad: Annapurna Studios, one of the leading film production centres in India, on Saturday announced that it has added five state-of-the-art studios with an investment of Rs. 100 crore.
The production house is hoping to target Hollywood with the cheaper labour and studio rentals in India.
The 10,00,000 square feet climate-controlled movie production studios are Asia`s most modern studios, offering "concept-to-can" facility.
Akkineni Nagarjuna, popular Telugu actor and managing director of Annapurna Studios, told a select group of journalists on Saturday that the air conditioned studios with integrated facilities are on par with international standards.
Annapurna Studios, founded by his father and legendary actor Akkineni Nageswara Rao three decades ago, will throw open the new facility in a week. "We hope to attract Hollywood. We are already getting some inquiries," said Mr Nagarjuna.
Hollywood looks to India as less expensive. "India offers Hollywood less expensive labour, junior artists and the studio rentals are also low here," he said.
He said Bollywood would be the first target of Annapurna. He pointed out that very few studios in Mumbai had the kind of facilities which his studio offers.
Mr Nagarjuna expects Rs. 45 to Rs. 50 crore turnover by the end of 2013 from the new facility.
Annapurna Studios spread over 22 acres in Banjara Hills already has five studio floors.
"This will allow us to not only host bigger volume of global movie productions but also create thousands of job opportunities in this region," he said.
Annapurna Studios last year opened a film and media school, which has so far trained 100 students in different fields of film, television and media.