Cinema operator Cine Grand, part of Indian group Cine Grand Network, will open three new multiplexes in Romania in the next two years and will invest at least EUR 10 million.
“We plan to launch another 15 screens between 2016 and 2017 and over 100 screens in the next 5 years. Based on multiplex, the number of rooms and the total area, the investments vary between EUR 2 million and EUR 4 million for each cinema,” said Amitabh Vardhan, Cine Grand CEO, cited by local Wall-street.ro.
Cine Grand ranks eighth among biggest cinema chains in Romania based on its revenues and the number of spectators, according to the National Centre for Cinematography (CNC).
Cine Grand, which has two cinemas, in Bucharest and in Botosani, with a total of 12 screens, recorded sales of almost EUR 700,000 and about 200,000 spectators last year.