The First Minister insists the proposed Pinewood Studios project in Wales is different to a previous, similar plan, nicknamed 'Valleywood'.
The Chief Executive Officer of Pinewood Shepperton says a new film studio in Cardiff will "do much to boost the Welsh film and television sector".
– Ivan Dunleavy, Chief Executive Officer, Pinewood Shepperton
We are delighted to have agreed with the Welsh Government to advise it on its television and film funding initiative. This builds on our success with Pinewood Pictures and managing the Isle of Man Treasury Film and Television Fund. Our combined advisory investment funds now total £55 million, making them one of the largest investment portals for new British television and film content.
The new fund together with the new facility will do much to boost the Welsh film and television sector. The fund is also another step forward for creating a sustainable UK film and television production centre.
The new Pinewood Studio Wales will be based here in Wentloog in a building formerly used by environmental company G24i.
The space will be transformed into four studios.
Actors Matthew Rhys and Michael Sheen have welcomed news that Pinewood Studios is to create a new studio in Cardiff.
– Matthew Rhys
This is more good news for Wales, and recognition of our place on the world stage as a destination for film and television drama production. Pinewood is a massive name in film and it’s great that more of the many talented people in Wales will now have a chance to ply their trade at home. Having a studio like this on their doorstep will also inspire a new generation of actors and film makers from Wales.
– Michael Sheen
This appears to be great news for Wales and a logical next step building upon the huge success of the revitalised Welsh entertainment industry. It's always a precarious business to attempt such a large undertaking, but it points to the confidence, the expertise and the creative spirit of the people of Wales and I hope it can help the country come closer to realising its hopes for the future.
The First Minister has described the Pinewood Studio Wales deal as a 'major coup'.
Carwyn Jones said: “After the glitz and glamour of last night’s BAFTA awards, I can reveal that the Welsh Government has secured one of the biggest prizes in the British film and television industry.
"Attracting such an iconic global brand as Pinewood is wonderful news for Wales. Pinewood is synonymous with world-class British and international productions, including the James Bond film franchise, and is home to some of the most successful feature films ever made.
“This high-profile investment is of significant economic value to Wales while the partnership between the Welsh Government and Pinewood offers a priceless opportunity to promote Wales as a world-class location for film and television production."
Global film company Pinewood Studios is to create a new studio in Cardiff in a deal agreed with the Welsh Government.
First Minister Carwyn Jones has unveiled the plans at a press conference with Economy Minister Edwina Hart and Pinewood Shepperton Chief Executive Officer Ivan Dunleavy.
Pinewood and Shepperton Studios have been home to more than 1,500 films, including the James Bond franchise, and Carry On series.
The 180,000 sq ft studios facility will be created in the former Wentloog Environmental Centre in Cardiff and will form part of Pinewood’s global network of film studios. The deal is set to generate an estimated £90 million spend with Welsh businesses.