Compact Disc to raise $68.75 mln for 3 films

New Delhi, Apr 16 (UNI) Country's leading integrated media and entertainment firm Compact Disc India Ltd (CDIL) today said it will raise 68.75 million dollars for funding its three international film projects.

The Board of Directors have approved raising 38.75 million dollars for funding two International movie projects and an additional 30 million dollars from foreign banks to fund a live action World War II-based International movie 'Playing with the Enemy', a company statement said.

''The money will be released in 15-20 days time,'' company Chairman Suresh Kumar said, adding that the company has already received in-principle approval from the banks for funding the project.

The films under production are being made by the company's UK arm Media One Ventures Ltd.

'Soccer', a 90-minute 3D animation film with a budget of 20.15 million dollars, will star Ronaldo while 'Eternal Love' is a 15.70 million dollar movie based on Tajmahal.

The bank will also lend another Rs 25 crore for CDIL's upcoming animation studio at Thiruvananthapuram Special Economic Zone (SEZ).

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