Hungary plans to build the world's biggest movie studio in Etyek, near Budapest, daily Nepszabadsag said on Saturday.
Hungarian business figure Sandor Demjan and Hungarian-born film producer Andrew G. Vajna will play a key role in financing the project, the newspaper said, without disclosing the expected cost.
Hungarian Culture Minister Istvan Hillar will officially announce the plan at the Cannes film festival on Sunday.
Andrew G. Vajna is one of Hollywood's influential independent producers, with films including the Rambo series, Evita, Terminator and Die Hard. In Hungary he is the chairman of InterCom Rt, the country's largest film, video and DVD distributor and movie operator company.
Demjan is a major shareholder in TriGranit Development Corp, a real estate group in central and eastern Europe. TriGranit also has the European Bank for Reconstruction and Development, as well as AIG New Europe Fund, among its shareholders.
Neither of the two figures or their representatives were available for comment.