Pinewood, Indomina Group Team for Studio in the Dominican Republic
LONDON -- U.K. studios facility operator Pinewood Studios Group has sealed a partnership with the U.S. and Dominican Republic-based producer and distributor of film, TV and trans-media content Indomina Group, the parties said Wednesday.
The pact will see Pinewood operate, manage and market a startup state-of-the-art film and television facility in the Dominican Republic.
Located about 40 miles east of Santo Domingo Pinewood Indomina Studios will be a full-service production facility for film, TV, and other related media content.
It aims to service the Caribbean, southern and central American markets as well as Hollywood and the rest of the world.
The facilities will initially comprise 16,400 square feet of sound stage space along with 49,200 square feet of associated production support facilities. The 35 acre site will include an acre water effects facility including a 246 ft x 246 ft exterior water tank, blue screen capabilities and a fully equipped diving and marine department. It hopes to open its gates by early 2012.
The newly formed partnership is betting on a growth in spending on filmed entertainment in Latin America.
The group said spending is expected to rise to $3.1 billion by 2013 from $2.5 billion in 2008.
Indomina Group co-chairman and CEO Jasbinder Singh Mann said: "Building and operating a world-class production facility in the Dominican Republic has always been an integral part of our vision for the company, and we're delighted to be doing so with a partner as distinguished and experienced as Pinewood."
Pinewood Shepperton CEO Ivan Dunleavy said: "This represents further progress in Pinewood's strategy to leverage the strength of our brand internationally and specifically to the growing Latino film and television market."