The Hindu Business Line : Essel plans to set up 50 multiplex malls in AP

Fun Multiplex, part of the $5 billion, Essel Group, will open 50 family entertainment centres across Andhra Pradesh with an investment more than 250 crore within a period of 3 years.

The initiative to establish multiplexes in Andhra Pradesh is part of the company's efforts to become the country's largest movie theatre chain. Each project will have a multi-screen cinema, shopping complex, food court and gaming zones.

The target is to open world-class multiplexes in the entire AP, adding more than 200 cinema screens in the small and big cities of the State. The Group is already executing similar projects in Gujarat and Rajasthan, with a total investment of approximately Rs 1,000 crore.

The company has called for EOI's (Express of Interest) for these projects for buying or leasing of land, joint development and tie-up with local developers to facilitate construction. The company has received serious queries from many retailers, who are keen to exploit the synergy that this expansion offers, a press release said.

"AP is an attractive market for cinemas, with its cities having a vibrant multi-lingual audience, offering strong exhibition potential not only for Telugu movies, but also for regional and Hindi movies. It is a market, where we intend to make a deep and long term business investment commitment," Mr Atul Goel, CEO, Fun Multiplex said.

"The company is also planning to have 300 digital screens which would be spread in those areas where the company does not have multiplex or budget cinemas," the Vice President, Mr Manish Dhoot, said.