Financial Daily from THE HINDU group of publications Thursday, Feb 05, 2004 |
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Alliances & Joint Ventures Variety - Entertainment & Leisure Sangeet Cinema in pact with Singapore cos for Cineplex Our Bureau
Hyderabad , Feb. 4 SOMNA Entertainment, a Hyderabad-based promoter of Sangeet Cinema, has struck a joint venture with Royal Brothers and CPG Corporation, both from Singapore, to develop a Cineplex that is modelled on the Orchids multiplex. Mr Raj Kumar Hiranandani, founder of the Royal Brothers Group, Mr S.S. Mishra, of Somna Entertainment and Mr Pang Toh Kang, Deputy Chief Executive of CPG Consultancy, said that the Cineplex would be a unique project that will host about 6 theatres with a capacity ranging from 200 to 1000, food courts, entertainment plaza and a shopping mall. This could mean an initial investment of about Rs 30 crore. However, the existing Sangeet Theatre complex located in Secunderabad, which is seen as a landmark and synonymous with the Hyderabadis, will be demolished to pave the way for this multi-storeyed complex. This would be developed with least inconvenience to the cine-goers in about 24 months. The planning, architectural and engineering design inputs would be from CPG Corporation, which has over 2,000 professionals working on host of projects. They are credited to have designed the Changi international airport and the National University of Singapore and Nangyang Technological University campus. "The effort is to cater to all sections of society or else we will go out of business. This means, we will attractively price our products and cater to not just shopping requirements, but provide for food courts, along with entertainment. Special care was being taken to provide a massive parking space that will host hundreds of visitors," they said. "While drawing inspiration from Orchids, it does not mean we will provide just Chinese food stuff, it will have Pani Puri to Chole Batura as well," they said.
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