Pyramid Saimira launches cineplex in China
Entertainment corporate Pyramid Saimira along with Longzhe Culture and Theatre has launched its first-ever cineplex in China and is planning to invest Rs 150 crore in the next six months for further expansion.
In a filing to the Bombay Stock Exchange, the company said, Pyramid and Longzhe Culture and Theatre (PICTL), the newly-formed join venture between country’s Pyramid Saimira Theatre and Longze group supported by the China Society of Music Research Board, has launched a theatre with the name – Huainan Pyramid Longzhe Entertainment Tower.
The joint venture is planning to invest USD 30 million (about Rs 150 crore) for the next six months in China. The group is set to launch 25 more theatres in prominent locations there.