PVR joins hands with Major Cineplex Group

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Bangkok, Feb 14: The pioneers of the multiplex screens in the country, PVR Ltd have signed a joint venture agreement with Thailand’s Major Cineplex Group Plc to bring lifestyle entertainment concepts to Indian consumers. The JV would set-up bowling alleys, karaoke centres, ice skating rinks and gaming zones across the country and help enhance the “out-of-home entertainment experience” for consumers. The JV is planning to build two such centres one each in the national capital region and Mumbai over the next six months.

The company has already started work on the NCR project, which is coming up at Ambi mall in Gurgaon, while for the Mumbai project the company would soon announce the partner. “We have identified the land to set-up bowling alleys, karaoke centres, and ice skating rinks near our multiplexes to offer a full entertainment package,” chairman and managing director PVR Ltd Ajay Bijli said.

The venture plans to set up 200 to 250 bowling lanes over the next three years in India. PVR Ltd would invest in the proportion of 51% and Major Cineplex Group Plc will invest in the proportion of 49% in the company named Blu-O Rhythm & Bowl. Major Cineplex Group Plc is a dominant market leader with a market share of about 75% in Thailand’s entertainment industry.

Commenting on the partnership, chairman Major Cineplex Group Plc, Vicha Poolvaraluck said, “The purpose of setting up joint venture in India is to operate bowling business there... The lifestyle of Indian consumers is enhancing the growth of lifestyle entertainment business which is growing at a healthy 20% rate annually.” When asked about the investment the JV has planned, Bijli said, “We would invest about Rs 9 crore on the NCR project.