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Our Bureau

Chennai , March 4

PENTAMEDIA Graphics Ltd has completed the acquisition of Silver Sands, a beach resort near Mahabalipuram.

Purchased for Rs 20 crore, the 78-room resort has been modified and renamed Mayajaal Onshore. Pentamedia will open the new resort on April 14 (Tamil New Year's Day). The resort will have various water sports.

The company purchased Silver Sands about three years ago. However, a few issues had to be sorted out with the resort promoters, Veecumsee. A couple of weeks ago, Pentamedia took over the resort after sorting out all the issues, Mr V. Chandrasekaran, Chairman, Pentamedia Graphics Ltd, told newspersons here on Thursday.

Pentamedia will also inaugurate a resort at Mayajaal, an entertainment centre on East Coast Road, on April 14. Built at a cost of Rs 18 crore and funded through internal accruals, the resort will have 40 rooms. Pentamedia plans to construct a shopping mall at the multiplex, which attracted over three lakh visitors last year. The company is looking at building such a multiplex in various cities, including Pondicherry and Coimbatore, he said.

Meanwhile, Pentamedia has lunched an online ticketing facility allowing customers to book their tickets through the Web, at www.mayajaal.com, and even choose their seating. Customers can also access the review and trailer of films shown at the Mayajaal Web site, he said.

Revenue from Mayajaal is expected to be around Rs 9 crore for the year ending March 2003, compared with Rs 5.5 crore during 2002-03, he said.

Pentamedia has completed the 90-minute feature film Buddha. It is to be released on May 20 (Buddha Poornima day) in Singapore. The film was produced in collaboration with Singapore's Economic Development Board under a profit-sharing arrangement at a cost of $6.5 million.

More Stories on : Resorts & Amusement Parks | Tamil Nadu

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Pentamedia winds up Silver Sands buy

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