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Our Bureau

Chennai , March 18

IMAX Corporation has announced that it will install two of its MPX theatre systems at Sathyam Cinemas' multiplexes in Chennai.

This replaces an earlier deal to install an IMAX theatre system at Sathyam.

With this, Chennai joins Mumbai, Ahmedabad, Hyderabad, Delhi and Kolkata where IMAX theatres are operational or in the process of being installed.

An IMAX press release said the first of the theatres would open in March 2006 at Sathyam Cinemas off Anna Salai, while the second is slated for a 2008 launch "at a location to be announced."

The release quotes Sathyam's Managing Director, Mr Kiran Reddy, who is now in the US, as saying that one of the triggers for allying with IMAX was the "compelling economics of the MPX theatre system."

MPX is supposedly a new, low-cost version of IMAX suitable for multiplexes. This is the first time MPX has been sold to an Indian client, said Mr Larry T. O'Reilly, IMAX's Executive Vice-President, Theatre Development, speaking to Business Line from London.

Mr O'Reilly said India and China are key markets for his company, and both are likely to see 20-25 IMAX theatres opening in the next four years.

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