Cinepolis, the Mexican cinema chain, has chalked out an investment plan of Rs 1,700 crore for its expansion in India. Under the proposed plan, the company is planning to set up multiplexes in South India at an investment of Rs 800 crore.
The investment plan is likely to be funded through internal accruals. Most of the funds are expected to be used for rentals and developing screens.
The company plans to launch 500 screens, 50 per cent of which will be in the southern cities in India. Currently, it is holding talks with 200 mall developers and had signed up for around 110 screens in India. Its first screen is scheduled to be launched at Amritsar in Punjab by November 2009.
Source : ProjectsToday
|