In­dian cin­ema com­pany to bring big screens to Myan­mar

The Myanmar Times - - Business - ZAY YAR LINN za­yarlinn@mm­

IN­DIAN film en­ter­tain­ment com­pany PVR Cine­mas has agreed to form a joint ven­ture with lo­cal cin­ema de­vel­oper Maze to build 400 movie houses in small towns across Myan­mar over the next few years, its lo­cal part­ner said.

The two com­pa­nies will ap­ply to the Myan­mar In­vest­ment Com­mis­sion for per­mis­sion to build the screens, U Tin Maung Win, chief ex­ec­u­tive of Maze, told The Myan­mar Times.

The joint ven­ture, called Par­adiso Cine­mas Com­pany, is owned 60 per­cent by Maze and 40pc by PVR Cine­mas, he said. The com­pany was reg­is­tered with the Direc­torate of In­vest­ment and Com­pany Ad­min­is­tra­tion on Au­gust 19.

“Even though our for­eign part­ner will sup­port us with fi­nanc­ing and tech­nol­ogy, lo­cal cin­ema de­vel­oper Maze will lead the op­er­a­tions. Ini­tially we planned to build 100 movie the­atres as pre­vi­ously an­nounced, but now we aim even­tu­ally to build up to 400 cine­mas,” he said.

When ac­tor U Lwin Moe es­tab­lished Maze at the start of July he held a press con­fer­ence to an­nounce a K20 bil­lion two-year project to build 100 cine­mas across the coun­try. KBZ Group has of­fered a K20 bil­lion loan, which will cover the con­struc­tion ex­penses and land ac­qui­si­tion for the first 100 cine­mas, while each cin­ema will cost around K200 mil­lion to build.

There were more than 400 cine­mas na­tion­wide in the early 1980s, but by the 2010s this had dropped to around 40, U Lwin Moe pre­vi­ously said.

The first cin­ema will be built in Yan­gon Re­gion’s Hmawbi town­ship, said U Tin Maung Win, who will be CEO for Par­adiso Cine­mas.

“We are start­ing to build in Hmawbi and af­ter that we will build in Aung­ban [in Kalaw town­ship in south­ern Shan State]. The size of the cine­mas will not be big,” he said.

Each cin­ema will be 60 by 80 feet, with two storeys at the front of each build­ing and one at the back. Each screen will have 316 seats.

The new cine­mas will use Dolby dig­i­tal sound sys­tems, while lo­cal firm Clover So­lu­tion will in­stall US$6 mil­lion in cin­ema equip­ment made by Brus­sels-based tech­nol­ogy firm Barco.

Clover So­lu­tion man­ag­ing di­rec­tor U Zin Aung Soe pre­vi­ously said each pro­jec­tor will cost be­tween $30,000 and $40,000 to in­stall.

Yan­gon Re­gion will en­joy the most new cine­mas, with Mandalay, Bago and Aye­yarwady the next big­gest re­cip­i­ents. “We will hold most of the shares, though we will re­ceive for­eign in­vest­ment. The for­eign part­ner will of­fer ad­vice and help with fi­nanc­ing,” U Tin Maung Win said.

De­tails about the level of fi­nanc­ing and sup­port­ing tech­nol­ogy will be an­nounced at a later date, he said. PVR Cine­mas, which hails from New Delhi, has more than 20 years of build­ing cine­mas in In­dia with more than 570 screens across the coun­try.

– Trans­la­tion by San Layy

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