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"Indians love cinema and they love technology. There is huge opportunity in India. I strongly believe, India will have 10-12 additional (Imax) theaters by 2010," a source in the know said here today.
Imax Corporation does not generally own theaters, but licences the use of its trademark along with the sale or lease of its equipment.
Engaged in production, digital re-mastering and distribution of 17/70 films too, the New York and Toronto - headquartered firm has, as on September 30, 320 theaters across 42 countries. More than half of the Imax theater network is equipped with 3D technology.
Three Imax theaters are at present operating in Hyderabad, Ahmedabad and Mumbai.
It tied-up with Prasads Group for the Hyderabad project, the Gujarat government for the facility in Ahmedabad and with Adlabs for the Mumbai project.
Imax Corporation also entered into an agreement with the Delhi-based real estate firm, Aeren R, for setting up two theatrs in Kolkata and Delhi.
While the Kolkata project would be opened in January next year, the Delhi project could see the light of day around the middle of the next year.
In the offing are projects in Chennai, Jaipur and Ludhiana, the source said, but declined to give further details. "Apart from the existing tie-ups, nothing prohibits Imax from entering into agreements with other local firms," the source said, adding that the company was in talks with multiplex chain PVR in recent times, but nothing has been finalised so far.
Excluding the cost of the land, it generally takes USD 3-9 million to put up an Imax theater, he said.
Imax Corporation is in active discussions to enter into marketing tie-ups with cola brands, mobile telephony firms and fast-moving consumer goods companies in the near future, the source said.
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