Film and entertainment firm Reliance MediaWorks has unveiled the most modern Film Studio to attract various Hollywood Filmmakers. The company will this week open the first phase of the studio. Reportedly, the studio is featured with affordable international-standard production facilities.

With India’s first Hollywood-benchmarked studio, the company expects to add 5 to 8 percentage points to its margins by calendar year 2012. The film Studio is built at Film City in the foothills of Sanjay Gandhi National Park in Mumbai. The first phase of the studio will be operational by Jan 15. Reportedly, it is being built with an investment of more than 1 billion rupees. The second phase will be operational by mid-2011.

MediaWorks CEO Anil Arjun, while talking about the Studio said that it will help filmmakers cut production costs by up to 15%. The studio is spread across seven acres and will have eight stages built to stringent acoustical and structural specifications.

RMW studios have the potential to garner revenues up to 10% of the company’s turnover, says Anil Arjun. “Impact on margins will be positive because we have added a business that has a significant turnover and high margins,” he said. The studio business has an average operating profitability of 50%, says Arjun.

According to reports, the Anil Ambani-owned Reliance MediaWorks (RMW) studio has already attracted Hollywood’s attention. Legendary filmmaker Oliver Stone after visiting the studio said that he will come back here again to make a movie.

J Scott Carter of Los Angeles-based Wylie Carter Architects, which is building the facility, says, “RMW’s expanding global capabilities allow 24/7 production partnerships with the best producers in the business, and direct digital tie-ins with production teams in Europe, Asia, and North America.”