Spice Group Ventures into movie production

NRI industrialist B K Modi will invest Rs 400 crore through a new firm Spice Enfotainment which will get into the film,  television and music business.




Spice Enfotainment  announced two new film projects, Buddha (to be directed by Ashutosh Gowarikar of Lagaan fame) and No Problem (to be directed by Aness Bazmee), while the company is planning to produce movies with Asian themes and actors. 
The company will be investing Rs 200 crore for the launch of his much-awaited film Buddha. The production cost of the film is slated for  Rs 100 crore, and another Rs 100 crore is for  promotion and advertising.
The pre-production of  Buddha will start on January 15, 2010 and its production will start by April 2010. It will be shot at the foothills of the Himalayas.The film is expected to be completed by the end 2010.
No Problem will be jointly produced by Spice Enfotainment and the Singapore Government, with an equal investment of Rs 20 crore by both the parties.
Spice Group a business group with interests in telecom, techonlogy, financial services and media and entertainment.
"We are not only into making Hollywood movies,we are making a full commercial Bollywood movie titled No Problem which is  in association with Anil Kapoor Productions and to be directed by Anees Bazmee.This movie will be shot entirely in Singapore and Anil Kapoor is the actor,"says BK Modi promoter of the company. 
The strategy for  this movie will be that it will be dubbed in different languages and ICM wil look after the marketing of Buddha.
For the movie No problem the budget is nearly Rs 30 to Rs 40 Crore but the complete budget will be told after the scoting as been told by BK Modi.
But there will be a  50-50 per cent investment by Spice Enfotainment and by Singapore Government for this movie.The initial investment has been made by Spice Enfotainment which is nearly Rs 20 Crore and Singapore Government has invested almost Rs 20 crore



Courtesy: business-standard.com