Indiantelevision.com: Chennai-based Pyramid-Saimira Group has signed Rs 100 million deal with Kalasa Entertainment Media Private Limited (KEMPL) to install 70 theaters with digital cinema equipment. The installation will be made between September 2005 and July 2006.
The deal follows Pyramid-Saimira’s earlier announcement of taking on lease 1000 theaters for digitalisation. The company plans to finish the assignment in three years and primary deadline is to digitalise 150 theaters by September 2006.
In April 2005, the company had signed a Memorandum of Understanding (MoU) with the Taiwan-based Delta Electronics for design, development and sourcing of about 15,000 digital projectors at a cost of about Rs 1.5 billion.
Digital cinema (D-Cinema) is slowly gaining ground as well as investments in India. Anil Ambani’s Reliance Capital purchased a 70 per cent stake in Adlabs worth US$83 million this year. Meanwhile, private equity fund ICICI Venture invested Rs 380 million rupees ($8.7 million) in PVR Cinemas, and GW Capital put in about Rs 150 million in Shringar Cinemas Ltd. This year, Adlabs acquired Vijaya Labs in Chennai to set up their operations and base in the city.
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