With already 23 screens across seven locations operational in Gujarat, Cinemax India Ltd. is set to expand its operations in the state. The company plans to invest around Rs 5 crore for a 3 screen multiplex property in Surat.
"There is a tough entry barrier in the multiplex industry. However, Gujarat has been a growing market for us. Considering the overall success we have had in the state, we intend to launch a property in Surat where we are not present so far. We will be investing around Rs 5 crore for the Surat property," said Sunil Punjabi, CEO, Cinemax India Ltd.
In Gujarat, Cinemax owns and runs multiplex properties in Ahmedabad, Vadodara and Rajkot. The company also operates a property in Anand on management contract.
"Buoyed by the success of the management contract in Anand, we are taking up another such contract in Valsad where we will manage the property," added Punjabi.
Apart from greenfield multiplex properties, the company had acquired a single screen theatre and converted it into three screen property under the brand name 'Cinemax Shiv Ahmedabad'.
"Cinemax Shiv Ahmedabad is one of the newest properties in our fast-increasing network. With more than 23 screens spread across 7 locations in Gujarat, Cinemax has come to be one of the leading multiplex brands in this state. We are committed to providing our viewers only the best, and promise to come back each time with many such unique and exciting partnerships and promotions," said Punjabi.
