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Bahrain’s sovereign wealth fund is in talks to invest 200 million euros ($213 million) in a startup Tuscan film studio in Italy that producer Andrea Iervolino is building outside Florence.
A technologically advanced production complex will be built in the city of Impruneta, boasting a large-scale set with a virtual aquarium, an immersive 360 studio for live-action production, a 250-acre backlot and a luxury hotel with movie theater. It’s inside. The Chianti countryside is about 32 miles outside of Florence.
Mr. Iervolino, who recently attended the Venice Film Festival as a producer on Michael Mann’s “Ferrari,” announced in August that he would invest 50 million euros ($53 million) in the Tuscan facility. According to sources, the studio’s business plan currently calls for an investment of more than 300 million euros.
Sidney Wheatley, Chief Investment Officer of Mashael Group, an independent oil trading and investment group owned by Sheikh Mohammed bin Salman bin Abdullah Al Khalifa of the Kingdom of Bahrain, posted the following text: confirmed in a message. variety “Our family office is currently considering the possibility of investing approximately 200 million euros in the studio.”
Wheatley is also the CEO of Mashael Movies, a prominent digital production company in the Middle East and India, particularly in technological innovation applied to animation, VFX and new format production.
However, the high-tech Tuscan film studio is primarily aimed at attracting period costume productions that can benefit from the beautiful Tuscan hills as a backdrop. To achieve this objective, Mr. Iervolino also established his digital cinema production service with a workshop for creating costumes and set elements in the nearby city of Prato, where he negotiated to partner with the hub. It is carried out.
The stated goal is for the Tuscan Film Studio to be operational by the end of 2024.