Russian Film Studio Mosfilm Reveals Expansion Plans

New facilities are to be financed from private sources, stated studio head Karen Shakhnazarov.

MOSCOW – Russia's biggest state-run film studio, Moscow-based Mosfilm, plans to erect new buildings that are to be financed by private investment.

According to Mosfilm's head Karen Shakhnazarov, the project -- which includes two new sound stages, a costume warehouse facility and a cinema and concert hall -- has already been approved by President Vladimir Putin.

"I am cautious, because similar ideas were floated before, never reaching the execution stage," Shakhnazarov was quoted as saying by the wire service RIA Novosti. "But now everything seems real. The president has approved [the project]."

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"We hope that the project will be executed within three to four years," Mosfilm's head went on to say. "But you never know for sure, especially when it comes to a large construction like that."

Shakhnazarov added that all the investment is to come from private sources, with no government cash involved. Earlier this month, Mosfilm's head stressed that the state-owned Mosfilm receives no funding from the government.

Back in the Soviet-era, Mosfilm operated as both a studio and a film production company, with more than 2,500 feature films to its name. Unlike many other Soviet-era film companies -- which are still fighting for the rights to their film libraries -- Mosfilm settled all the legal issues many years ago, and now copyright fees account for 30 percent of the company's revenues, Shakhnazarov said.