Cinepolis plans expansion in South India; to invest Rs. 400 cr.

International cinema exhibitor Cinepolis has announced a major expansion in South India with an investment outlay of Rs. 400 crore.

This entails opening 180 screens in southern India, including 70 screens in Andhra Pradesh and Telangana.

Alejandro Ramirez Magana, CEO, of the Mexican company Cinepolis (Global), said, 'We have witnessed substantial growth in India, particularly in South India. Cinepolis Hyderabad is one of the top 10 locations of Cinepolis measured by footfalls per screen globally. It is also one of the key locations where we foresee remarkable market expansion in 2014, and we will be investing a significant share of our India investments'.

'Cinepolis will have close to 180 operational screens in South India by 2016 with a total investment of more than Rs. 400 crore.' Ramirez added.

Cinepolis has 22 operational screens in South India. The company has been instrumental in augmenting the multiplex culture in Hubli and Mangalore and launched one of the first multiplexes in these cities. Its multiplexes are operational in Hyderabad and Bangalore.

HBL