Mexican multiplex chain Cinepolis has announced its plans of investing Rs 400 crore and opening 160 cinema screens in the top 60 cities across the nation by the end of 2017.
“We will invest Rs 400 crore to open 160 screens by December 2017 in India. India is the second largest market for Cinepolis after Mexico. Our focus is to start screens in the list of 60 cities that we have identified. In the next six months, we will open screens in cities like Bengaluru, Pune, Guwahati, Hyderabad, etc.,” said Cinepolis India Managing Director Javier Sotomayor.
The company has just launched four new cinema screens in New Delhi. Cinepolis had opened its first cinema screen in India in Amritsar in 2009. Later, it acquired Fun Cinemas in 2015. Cinepolis is now looking forward to opening new screens under Cinepolis and Fun Cinemas brand.