The Wall Street Journal reports that Dreamworks SKG are close to finalizing a deal with one of India’s biggest conglomerates to form a new movie venture. The deal with Mumbai-based Reliance ADA Group would give director Steven Speilberg around $600 million to finance Dreamworks’ depature from Paramount Pictures later this year.

According to the report, the Indian firm wants to build its media empire by financing Hollywood pictures. The deal would give them a large share in the company. Once the money is in place, Dreamworks will produce about half a dozen pictures per year.