Spain’s Minimo plans to invest $250 mln in Saudi Arabia

Saudi Arabia’s flag

Spain-based film studio Minimo VFX plans to invest $250 million in the Saudi market through a joint venture with a local company, Asharq News reported, citing Chief Executive Officer Felix Balbas.

“Our partnership with the Saudi Next Level Co. consists of opening a regional headquarters in Riyadh and localizing the film content industry, as well as training Saudis and empowering them globally,” Felix said.

The new entity will commence operations in Riyadh in early. It will offer production, logistical and advisory services for visual effects, long and short films, television shows and advertisements.

Minimo co-produced films including The Dark Knight, Avatar, The Mission, Doom, and Harry Potter.