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Two IMAX theatres planned in Chennai

IndiaGlitz [Thursday, March 17, 2005]

US-based IMAX Corporation will be helping Sathyam Cinemas, a leading commercial exhibitor in Chennai, install two IMAX theatre systems at multiplexes in the Tamil Nadu capital.

A new agreement, signed in New York Friday, "supersedes an existing deal with Sathyam for one IMAX theatre system which was signed in 2004", a company statement said.

The first IMAX theatre is anticipated to open in March 2006 at the Sathyam Cinemas site off Mount Road, a popular theatre. The second is planned to be ready in 2008 at a location yet to be announced.

The agreement brings the number of IMAX theatres scheduled to be operating in India by 2008 to nine.

"The great success of multiplex-based IMAX theatres in India continues to drive interest from commercial exhibitors throughout the country," said Larry T. O'Reilly, IMAX's executive vice president of theatre development in a statement.

"The Sathyam Cinemas multiplex is an ideal venue to launch The IMAX Experience in Chennai - a key market for IMAX in India - and we believe it will help drive additional expansion of the IMAX theatre network in the region," said O'Reilly.

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