The Chandigarh-based Compact Disc India (CDI), an integrated media and entertainment company, said it will invest $63 million (Rs 309 crore) for animation feature film and multi platform gaming.

The board of directors has approved the budget of $63 million.

Compact Disc India chairman Suresh Kumar stated, "While the animation film will have a budget of $20 million, we will invest $23 million in developing the gaming project and $10 million towards merchandising. The budget also includes the merchandising of a project with former Brazilian football player Pele."

Recently, the company had announced that Pele (Edison Arantes do Nascimento) will act as an Executive Producer with the company for a soccer-based animation feature film. Kumar said, CDI plans to release the film just before the Fifa World Cup in 2010.

Developing the game will take around 18 months. Earlier, the company had announced in a filing to the BSE, that Laser Infomedia, a company owned by a promoter of CDI, would set-up a developing and publishing gaming software studio in New Delhi in collaboration with Singapore-based Golden Games, in 2008-09. CDI has also approved a mid-term loan of $10 million offered by iMedia Ventures at Libor plus 175 basis points for a period of 10 years. Shares of the company closed at Rs 37.75 on the BSE.