Penelope Cruz, riding a massive high following the rave notices at the Cannes Film Festival for her performance in Pedro Almodovar's evocative cross-generational drama "Volver", has confirmed that her India-centric film project will be off the blocks soon.

However, a director is not yet in place for the English language film backed by her own newly launched company, 88 Producciones. The film, based on a celebrated novel by Javier Moro, "Indian Passion", revolves around a real life turn-of-the-century flamenco dancer who falls in love with and marries an Indian maharaja.

Cruz is slated to play the role of the dancer whose affair with the maharaja begins when he attends the wedding of the then Spanish King.

"Indian Passion" will be filmed in France, Spain and India later this year.

"I think this facet of my life is going to be satisfactory," Cruz said of her decision to turn film producer.

"I am stubborn. That might not be a great trait in other areas of life, but I think it will come in handy when I don the mantle of a producer."

Cruz's production company, named after the tattoo that she has on her right knee, has another major project in the works - a yet to be titled Spanish film to be directed by the Oscar-winning Fernando Trueba.

Cruz has worked with Trueba on the critically acclaimed "Belle Epoque" and, more recently, "The Girl of your Dreams". "Belle Epoque" won the Oscar for the Best Foreign Language Film of 1992.