German, US and Bulgarian investors are to build a new film studio in the village of Gorna Malina, near the Bulgarian capital Sofia, Bulgarian news agency BTA reported.

The investors were individuals, not companies, but their names would not be disclosed until the project was completed, project contractor Symmetry Capital manager Bogdan Milchev told BTA

The initial investment in the project would be three to four million euro, Milchev said. The financial returns from the new studio were expected in the next three to four years, he said.

Symmetry Capital was a Sofia-based risk capital company, BTA said. The non-risk capital would be taken as a loan from a big Bulgarian bank, BTA quoted Milchev as saying.

The new studio would be build on 30 000 sq m and would produce mainly films, television production and cartoons.

The studio would be build in 2007 is expected to start producing films in the autumn of 2007, BTA said.

Bulgarian Unified Film Organization had already booked part of the new studio-to-be, Milchev said. The studio also had a contract for 12 films with Universal Pictures, he said.