ADAG, China's Wanda to form JV

Reliance MediaWorks will explore possible co-operation with Wanda Group in the multiplex business in India and the US

Billionaire Anil Ambani's Reliance Group said on Thursday it signed an accord with China's Dalian Wanda Group to set up a joint venture to work in areas including development of real estate and multiplex business.

The joint venture's first priority will be to build integrated township projects in India, Reliance Group's flagship Reliance Communications said in a stock exchange filing.

Another group company Reliance MediaWorks will explore possible co-operation with Wanda Group in the multiplex business in India and the United States, the statement said.