Cinemax to invest Rs 20 crore in Guj

With the producers-multiplex owners’ row over, Cinemax is set to revive its expansion plans in Gujarat. The multiplex chain, which recently launched its second property in Ahmedabad, will be investing around Rs 18-20 crore by the end of financial year 2009-10.

“In Gujarat, we already have around 18 screens. Now that the producers-multiplex owners’ row is over, we expect the footfalls to increase and, therefore, have planned to expedite our expansion plans. We plan to increase the number of screens by nine by setting up three more properties by the financial year 2009-10,” said Devang Sampat, senior vice president, Cinemax India Limited.

Cinemax plans to develop a single screen theatre, which it had acquired, in Ahmedabad, into a three-screen multiplex. The new property will host a total of 987 seats with 4 screens, of which 108 will be recliner seats.

Talking about the launch, Sampat said, “Since our commencement we have laid strong emphasis on screen size, picture and sound quality and innovative consumer offers.”

By the end of the fiscal, the company is also aiming at doubling footfalls at its properties from the current 70,000 per month.