Maharashtra Chief Minister Devendra Fadnavis speaks at the World Audio Visual and Entertainment Summit (WAVES) 2025, in Mumbai, Friday.
| Photo Credit:
SHASHANK PARADE
Godrej Fund Management and Investment Advisers and Prime Focus announced investments worth ₹5000 crore in Mumbai to set up film making facilities, with both companies signing agreements with Maharashtra Chief Minister Devendra Fadnavis on Friday.
The announcements were made on the sidelines of World Audio Visual and Entertainment Summit.
Prime Focus, whose shares are traded on the BSE, said it would invest ₹3,000 crore to set up a ‘film city’ that would house an entire entertainment facility.
The facility had the potential to create up to 2,500 jobs, according to founder Namit Malhotra, who said that the city will come up over a 200 acre-land parcel area that will be allocated by the State government. He however did not disclose the location of the facility.
The proposed film city will have Ramayana-themed amusement park, hotels and residential accommodation.
Two phases
Real estate private equity firm Godrej Fund Management said it would invest ₹2,000 crore in two phases to set up a studio in Panvel. It would invest ₹500 crore in the first phase and another ₹1500 crore in the second phase. Chief Minister of Maharashtra Devendra Fadnavis, who was present at the signing, said that both the projects will help the State’s economy.
CM Fadnavis also announced that UK’s York University and University of Western Australia will be setting up campuses in the ‘third Mumbai’ located nearby, where the state is planning to create an education hub.
Published on May 2, 2025
