CDI to invest $63 mn in animation film; to acquire 50% in Laser Infomedia

MUMBAI: Compact Disc India (CDI) has earmarked $63 million (Rs 3.09 billion) for production, gaming, and merchandising of an animation film based on soccer. The Chandigarh-based company has roped in soccer legend Pele as an executive producer for the movie.

CDI has agreed to buy 50 per cent in Laser Infomedia Ltd, a gaming development firm. It will invest Rs 927 million for the multi-platform gaming development project.

"While the animation film will have a budget of $20 million, we will invest $23 million in developing the gaming project and $10 million towards merchandising. A further $10 million will be towards merchandising," Compact Disc India chairman Suresh Kumar tells

CDI plans to release the film just before the Fifa World Cup in 2010. "Developing the game will take us around 18 months," says Kumar.

CDI has also approved a mid-term loan of $10 million offered by iMedia Ventures at Libor plus 175 basis points for a period of 10 years. "This loan is secured in a foreign company promoted by CDI," says Kumar.

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