Kerala government company to produce films, upgrade theatres

Thiruvananthapuram, July 6 (IANS) The Kerala Financial Corporation (KFC), a state-owned financier, Friday announced that it would grant funds to produce films, revamping of theatres and construction of new multiplexes.

Finance Minister K.M. Mani announced the scheme that is expected to usher in fresh activity in the cash strapped Malayalam film industry. Under the scheme, filmmakers can avail a loans up to Rs.2 crore for films, documentaries and television serials.

Mani handed over a cheque of Rs.75 lakh to Sandhya Rajendran and Rajendran, producers of the upcoming film "Hide & Seek", being made under the banner of Kalidasan International at the function.

The second scheme will focus on modernisation, upgradation and expansion of existing theatres and for building new multiplexes. The body offers loans upto Rs.20 crore on easy terms with a provision for routing part of daily collections at these centres to the loan account.