Chennai based cinema chain-operator, Pyramid Saimira Theatre Ltd (PSTL) has entered a joint venture with the China Society of Music Research Board, a unit of the Chinese ministry of Culture. Pyramid Saimira is planning to invest close to 4 billion in the first year of operations itself. The joint venture company is called the Jiangsu Pyramid Longhze group. Meanwhile, it is a preliminary agreement that both the participants have signed.

 

Jiangsu Pyramid Longhze group will be responsible for creating, operating theatres and distributing films in China. It will also engage in other cultural, art and entertainment activities in the Republic of China. The joint venture is also planning an exchange of artists between the two countries. Pyramid Saimira already has theatres and multiplexes in the USA, Singapore and Malaysia apart from India. With both India and China experiencing sea change in their relationships, nurturing of the entertainment sector in China is something which was long awaited.