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Pyramid Saimira's first ever Cineplex in China
September 17, 2008 6:23:00 PM IST Rachana, Bollywood Trade News Network
Pyramid and Longzhe Culture and Theatre Limited, China (PLCTL) the newly formed joint venture between India's Pyramid Saimira Theatre Limited (PSTL) and Longzhe Group supported by The China Society of Music Research Board (CSMRB), has successfully launched its first ever theatre in Huainan, China - Huainan Pyramid Longzhe Theatre Entertainment Tower.
The theatre was inaugurated by Mrs. Uma Saminathan, Director - PLCTL with the mayor of the Huainan, Ms. Sun Quan Yu CPC secretary Mr. He Xiao Xiang and the first film to be run here is RED ROCK a very popular film in China. Mrs. Uma Saminathan, Director of Pyramid Saimira's Chinese Joint venture said, ''This is a very prestigious moment for us. Hunainan Pyramid Longzhe Theatre Entertainment Tower is just a sign of emergence of growth in formal entertainment sector in China. Our main aim is to provide the people of China with international standards of entertainment and hospitality and our theatres/ our music/ our films/ our other cultural events/ our training setup in film and drama would be a symbol of that.''
Speaking at this landmark occasion Mr. Venkat, COO of Pyramid Saimira's Chinese joint venture said, ''We always knew that China was a huge potential market to tap and after signing the historic deal with CSMRB, we initiated work at a very brisk pace. Huainan Pyramid Longzhe Theatre Entertainment Tower is one in a series of 6 more entertainment towers which would be launched by PLCTL by December 08.''
The Joint Venture would invest USD 30 million for the next 6 months in China. Pyramid Saimira and CSMRB, had signed a cultural cooperation agreement, which has paved the way for this business launch, in March 2008, The group is all set to launch 25 more theatres which are all in prominent locations, apart from seeding other facets of the entertainment business.
Next in line for Pyramid and Longzhe Culture and Theatre Limited, is Liyang Pyramid Longzhe Theatre Entertainment Tower in Liyang.