May 2010
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PVR setting up 60 multiplex screens

Chennai: PVR Ltd, a retail entertainment company, has earmarked around Rs 120 crore for setting up 60 multiplex screens across the country, said Amitabh Vardhan, chief executive officer, PVR Cinemas, who was here on Thursday to launch a multiplex.

Of this, 14 are already operational and the remaining will be opened by the end of this fiscal. The company currently has around 127 screens. The proposed expansion will be funded through debt and equity, said Vardhan while declining to comment on the equity portion and further plans.

The company has invested Rs 14 crore in the new seven-screen multiplex, which has a seating capacity of 1,850.

South India is an important market for the company, said Vardhan. The company is planning to invest around Rs 50 crore in the next 18 months in the south.

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