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PVR partners with Dubai's Al-Futtaim to explore opportunities in MENA region

Press Trust of India  |  New Delhi 

operator PVR has entered into a memorandum of understanding (MoU) with Dubai's Al-Futtaim Pvt Co to explore opportunities to jointly develop cinema business in the and (MENA) region.

PVR in a regulatory filing said both parties will work together over the next few months to undertake a feasibility study and convert the MoU into a formal joint venture arrangement.

In December last year, PVR had said it was scouting overseas destinations for expansion and planned to open its first project in in next two years.

"has entered into a non-binding Memorandum of Understanding with Al-Futtaim Pvt Co LLC, a Limited established under the laws of for inter alia exploring opportunities to jointly develop cinema business in the and (MENA) region and subject to a feasibility study, entering into a joint venture arrangement" the company said in the filing.

At present, PVR operates over 600 screens in 52 cities in

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, July 10 2018. 16:05 IST