MUMBAI: Ashok Amritraj‘s Hollywood-based Hyde Park Entertainment and Imagenation Abu Dhabi will invest $75 million to produce three to four films per year over the next five years.
For the same, the two companies will establish an alliance with Singapore‘s Media Development Authority (MDA).
"Hyde Park and Imagenation‘s activities in Hollywood and throughout Asia are further strengthened by this new relationship with Singapore. We look forward to working closely with the MDA and being a leading force in the global media growth in Asia," Hyde Park Entertainment
chief Amritraj said in a statement.
The multi-party venture will commence with an English language cross-cultural production, to be named in the coming weeks.
Last year in May, Ashok Amritraj‘s Hyde Park Entertainment had announced that it was planning to set up a multi-million dollar fund in Asia for the production of feature films.
The fund aimed to raise $55-$73 million.
Imagenation Abu Dhabi and Hyde Park Entertainment first partnered in November 2008 on a $250 million financing deal to develop, produce and distribute up to 20 feature films over seven years with additional financing for the production of local language and cross-cultural films.
