AAAAAAAAAAAAAAAAAAAAAAAAAAA

Cinemax set to expand

        Close on the heels of INOX opening its doors for film buffs in Chennai, Cinemax India Limited, is set to expand its theatre chains. The details were made known to the media by its chairman Rasesh B Kanakia recently.

        Among the salient features is expanding its theatre chain from 33 screens with 9220 seats in 10 locations in Maharashtra to 141 screens with 36,132 seats in 42 locations across India by 2009 at an investment of Rs 150 crore. Plans are there to set up a mall-cum-multiplex at Vandalur in collaboration with a mall developer Gold Souk.

        'In the next six months we will be finalising 15 tier II and III cities in the South where the population is above 10 lakh for setting up screens. Gold Souk is expected to spend Rs 55-70 crore for developing the mall-cum-multiplex in Chennai with Cinemax setting up six screens with a seating capacity fo 1500 seats and other fittings at a cost of Rs. 15 crore,' Kanaria said.

        The clinching aspect is the occupancy in theatres in matinee shows, which Kanaria hoped to be on a higher notch than the 40 per cent in Mumbai.

        Dwelling on the expansion plans, Kanaria said, 'Three screens are proposed in a multiplex in Hyderabad at an investment of Rs 8-10 crore expected to be operational in June. In Bangalore, the company has tied up for three properties where Cinemax will set up the screens and do the interiors and retro fittings.'

— NT Bureau

GO TOP  / HOME / OTHER REGIONAL FARE STORIES