UFO Moviez's asset-light franchisee venture Nova Cinemaz, in association with Y Screens Entertainment, will set up over 225 cinema screens in Andhra Pradesh and Telangana by 2020.
Both recently signed a pact to set up Y Screens Trade Development Centre (YSTDC), which will have two-screen miniplexes among other amenities, a statement said.
The miniplexes at the YSTDC centres will be branded and operated as Y Screen Nova Cinemaz, it added.
UFO Moviez CEO - Special Projects Vishnu Patel said, "There is voracious appetite for quality movie-viewing experience in Andhra Pradesh and Telangana and we wanted to build on that. Through this association, we aim to bring great cinema experience for the movie lovers in South India."
Y Screens Entertainment CMD Y Ratna Kumar said: "We are very pleased to have entered into this MoU with Nova Cinemaz. They have deep and wide-reaching ties within the Indian film industry and we look forward to building a mutually beneficial relationship."
As per the terms, Y Screens Entertainment will tie up the necessary investment for setting up the theatre while Nova Cinemaz will take care of complete branding support and programming of films, it added.
Y Screens will establish 15 YSTD centres in the first six months and another 200 cinema screens over three years.
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