Anil Ambani’s Hollywood dream is finally taking shape. The Indian industrialist, along with his DreamWorks Studios partners and Hollywood veterans Steven Spielberg and Stacey Snider, have worked out a joint venture deal in which the Anil Ambani group and others would invest $825 million (around Rs 4,000 crore).

“Upon the first closing expected shortly, there will be an initial $825 million available for film production. This initial phase of funding will include an equity investment from ADA Group, debt financing from a syndication of banks, as well as funding from Disney,” Reliance BIG Entertainment said.

The equity component would be $325 million, while Disney would infuse $125 million and the balance from a syndication of banks and other investors. “This venture with Reliance opens a new door to our future,” said Spielberg, who produced hits like ET and Jurassic Park.

Ambani met Spielberg and Snider in New York on Wednesday. The new motion picture company formed between Reliance BIG Entertainment and DreamWorks has been functioning since November 2008 from DreamWorks’ long time offices in Los Angeles, California.

With this financing, DreamWorks will eventually make 5-6 films per year. Earlier this year, DreamWorks signed a distribution deal with The Walt Disney Company, which will handle marketing and distribution of the studio’s films around the world, except for India where Reliance BIG Entertainment will retain distribution rights.

DreamWorks anticipates starting its first film for the new studio later this year. It has been actively acquiring properties and developing projects for release in 2010. In addition, DreamWorks acquired numerous attractive projects from Paramount on the separation from that studio earlier this year. An announcement of the initial films to go before the cameras will be made at a later date. WITH PTI INPUTS