Cinema chain operator Pyramid Saimira Ltd plans to invest close to 4 billion rupees in the current fiscal year in its joint venture with the China Society Music Research Board.
The Indian firm had signed a preliminary agreement with the Chinese entity, which is under the Ministry of Culture of the People's Republic of China, to form Jiangsu Pyramid Longzhe Group.
The joint venture will operate theatres, distribute films and engage in other entertainment, arts and cultural activities in China, it said in a statement. It would also launch one screen a day in Mainland China and generate non-box office revenues too.
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