The follow-up to cult 90s film The Crow will be the first movie to be made at Pinewood's new studios in Cardiff, it has been confirmed.
The multimillion-pound blockbuster is a reboot of the 1994 horror flick which hit the headlines after lead actor Brandon Lee - son of martial arts star Bruce Lee - died during filming.
Ivan Dunleavy, chief executive of Pinewood Group, said he was pleased the studio's new base was off to an encouraging start little over a year after setting up shop.
"I'm delighted that our dedicated team in Wales have ensured the studio is fully operational," he added.
"The opening coincided with figures released in January from the Department for Culture, Media and Sport showing the sector's growth has reached record highs, and is now worth £76.9 billion per year to the UK economy."
The Crow was a dark comic book fantasy telling the story of rock musician Eric Draven, who is revived from the dead to avenge his murder and the death of his girlfriend.
The original film spawned a number of sequels and a television series.
Although the cast list has yet to be revealed, Pinewood officials say filming will start soon.
The announcement on the new Crow film was made by First Minister Carwyn Jones, who visited Pinewood Wales's 180,000 square foot facility today.
He said: "Provisional figures show we have broken the record for the number of foreign investment projects attracted to Wales last year and Pinewood is to become our 50th anchor company.
"Fifty thousand people now work in the creative industries in Wales and that success shows we have the talent, resources and skills to support the best productions in the world."
Funding in the region of £30 million from the Welsh Government's media investment budget has been pumped into the studio and is expected to generate £90 million for the economy as well as create more than 2,000 jobs over the next five years.
Mr Jones said: "Pinewood are committed to this building to shoot films in the future.
"Where we can create a cluster of expertise will attract more and more businesses in that area of expertise, that's how Hollywood started."
"Ten years ago this would never have happened. It's a sign we're going out and selling Wales.
"The country is getting a good reputation as a place where these skills are being used and a place for businesses in the creative industry."
As well as The Crow, pre-production and rehearsals are already under way on the studio's first multimillion-pound television production, The Bastard Executioner, produced by Fox 21 and FX.
Pinewood and Shepperton Studios have been home to more than 1,500 films in more than 75 years, including the James Bond franchise and Carry On series.