Moscow authorities have given the go-ahead for the construction of a new fully independent film studio, Movie Town.

Russian actor Alexander Nevsky and producer Alexander Izotov will build their own Tinseltown, set to cost $40m, in Dzerzhinsk, a suburb in south Moscow. The producers have had to wait a year since the project was submitted, before being give the green light by the city authorities.

It is hoped that the new independent studio will lure foreign productions away from cities such as Budapest or Prague, which are considered to be more film friendly.

Stretching over a 20,000 square meter area, Movie Town will be able to house a number of movie companies, 8 sound stages, an international film school, leisure facilities and a luxury movie theatre.

 “This is a culmination of a lifelong dream to create a Russian based film studio of this scale,” said Nevsky.

Alexandre Nevsky, an action star turned producer is now planning to shoot and star in his project Hercules: The Beginning in the new studio as early as 2010.