Rel MediaWorks earmarks Rs 100 cr capex for FY11

Reliance Mediaworks today said it has earmarked a capex of Rs 100 crore for the current fiscal to fuel its expansion plans.

The Anil Ambani-led film and entertainment service arm plans to scale-up its multiplex chain in India to 323 this fiscal and to set-up sound stages, the official said.

"We are looking at adding 60 more screens this fiscal besides setting up eight sound stages in the country. The total investment required for the expansion this year is around Rs 100 crore," Reliance Mediaworks' Chief Executive Officer Anil Arjun told PTI here.

The funds for the expansion will come from debt and internal accruals, he said.

The company, currently, has around 263 screens across the country, whereas globally the number would be around 527 screens. It is currently present in the USA with 190 screens and Malaysia with 70 screens.

Meanwhile, new screens would be coming up in major cities such as Delhi, Mumbai, Bangalore, Hyderabad, Jalandhar, Chandigarh and Ludhiana, Arjun said.