MUMBAI: Anil Ambani-controlled Adlabs Films has submitted a bid for setting up three film studios at Film City in Mumbai's Goregaon suburb.

"Film City had come out with a tender. We have submitted our bid and are confident of bagging it," says Adlbas Films chairman and managing director Manmohan Shetty.

The plan is to make studios which would match the quality of Hollywood with shooting floors, editing and processing facilities.

Adlabs runs a chain of multiplexes and is engaged in the business of film production, processing and editing. After Ambani took a controlling stake, the company has also ventured into film distribution to spread its presence across the entire value chain.Film City has received nine bids for the Rs 300 million project, according to a report which quoted managing director Bhushan Gagrani.

In the 90s, Film City harboured the dream of setting up three studios but had to shelve the project due to lack of financial resources. Pressed by a fast-growing film and television industry, the decision to revive the project was taken recently under the build-operate-own-transfer model. The bidder who offers to transfer the assets in the shortest period will be awarded the contract.