PVR forms JV with Major Cineplex, Thailand

Multiplex cinema exhibition company PVR has signed a joint venture agreement with Major Cineplex Group of Thailand to bring lifestyle entertainment concepts in India.

According to an official release issued by PVR to the BSE today, the JV would set-up bowling alleys, karaoke centers, ice skating rinks and gaming zones in and around PVR's multiplexes to provide a complete out of home experience to consumers.

The company plans to cater to the evolving tastes of today's Indian consumers where there has been a significant increase in consumption expenditure due to rising disposable incomes on account of sustained growth in all income levels.

The venture plans to set up 150-200 bowling lanes in the next three years in key cities across India.