HYDERABAD: Picasso Digital Media Pvt Ltd., today revealed plans to set up two state-of-the-art animation campuses and production centers one each in Delhi and Hyderabad.

To be set up in collaboration with Centennial College, Canada, the company has decided to invest around $ nine million over the next five years.

Addressing the media, Picasso Digital Media MD & founder ABRP Reddy said, “We would invest around $ nine million for setting up of these two world-class animation academies. Requisite technology would be provided by Centennial College besides providing faculty and certification for the courses.

Reddy further informed that the company intends to train manpower and then start taking production work. “In the next eight to ten months we will have trained talent and we will start taking high-end 3D projects. We are not offering any placements with the courses, but we foresee half of the employee base from our own training center. Besides, the students of Centennial College are involved with films like Lord of the Rings, Shark Tale, Stuart Little, etc.,” said Reddy.

According to Reddy, the company is expected to record revenues of $ 15 million by the end of 2010. Reddy explained, “In India, presently some amount of 2D work is getting done. There is tremendous potential in 3D but what we need is skilled manpower. By establishing trained talent pool, we then want to take up major projects and we expect that our revenues should cross $ 15 million by the end of 2010.” (CyberMedia News)

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