Cinemax to come up with multiplexes in Chennai, Hyd, B'lore

Chennai, Jan 19 (UNI) Close on the heels of its competitor INOX making a foray into the southern market, Cinemax India Limited, one of the largest multiplex chains with 33 screens, today announced its plans to open multiplexes in Chennai, Hyderabad and Bangalore.

Addressing a press conference here, company Chairman Rasesh B Kanakia said a three-screen multiplex would come up on an area of 32,000 sq ft in Hyderabad by June 2007.

The company, which had tied up with film director K Raghavendra Rao for the project, had invested Rs eight to ten crore, he said.

In Chennai, the company had tied up with property developers 'Gold Souk' to launch a six-screen multiplex with a total seating capacity of 1,500 seats at suburban Vandalur.

Mr Kanakia said the project, which would come up on an area of 200,000 sq ft with an investment of Rs 15 crore, would be completed by 2009.

The company had also entered into agreement with three property developers in Bangalore for setting up multiplexs there, he added.

Impressed with the occupancy rate of around 70 per cent in the south as against 45 per cent in Mumbai, Mr Kanakia said his company would now focus more on the southern and eastern markets.

''As part of our expansion plans, we are planning to increase the number of screens to 141 from the present 33, taking the total seating capacity from 9,000 to 36,800 seats,'' he said.

UNI