Pyramid Saimeera invests 400 Crores Rupees in China

Chennai’s Pyramid Saimeera in a joint venture with the Chinese Government, is investing 400 crores  in China.

The Managing Director of Pyramid Saimeera, Mr.P.S.Saminathan and the  Deputy Secretary  Luo Shi  Jeng  of the Chinese Social and Cultural Research Co-ordination Committee reported that  that Pyramid Saimeera in collaboration with China’s Cultural Department is forming a new organization called as Jiangsu Pyramid Langjee.

The Jiangsu Pyramid Langjee will produce movies from various languages,screen,make arrangements to screen Holywood Movies, to set up restaurants,sports stadia and involve in other connected entertainment activities.

The Chinese Government will lease out 350 cinema theatres to Jiangsu Pyramid Langjee on a long term basis.

Pyramid Saimeera will invest Rs 300 crores in the proposed new organization and China will also invest an equivalent amount in the joint venture. Pyramid is the first Organisation to invest in the entertainment sector in China. In the next two years Pyramid Saimeera estimates that it will earn a profit of 2000 crores rupees.

In addition, arrangements will be made to conduct prominent cine cultural events in China in which famous Polywood, Kolywood and Tolywood stars will participate and a sum of 100 crores will be invested for the same. In the next two years, Pyramid Saimeera will run 175 multiplex theatres throughout India. Last year alone Pyramid Saimeera  has circulated  a sum of  1,000 crores  in the cine field.

Pyramid Saimeera’s joint venture is a welcome feature that showcases the Sino-Indian Cultural Co-operation.