EAP Films and Village Cinemas to set up JV in Sri Lanka
View(s):Village Roadshow of Australia and EAP Group of Sri Lanka are to jointly look at opportunities in Sri Lanka to develop modern cinema multiplexes, Theme Parks, Satellite Pay TV, Property, Digital Multimedia Advertising and other cinema-related value added revenue streams.
A MOU for this purpose was signed recently between the two parties, according to an EAP group media release.
Under this MOU both the companies are hoping to set up a JV in Sri Lanka, taking advantage of the Sri Lankan Governments incentives offered for multiplex cinemas. It is envisaged that the Sri Lankan public will be benefitted by world class cinema offerings in both content and facilities.
Village is a world leader in the cinema industry with some of the best cine multiplexes on offer and is part of the Village Roadshow Group which also has interests in Theme Parks, Film Distribution and Film Production. EAP is a leader in the Sri Lankan film industry in Production, Distribution, Exhibition and importation of films.
The release said these arrangements were negotiated by Clark Kirby, COO of Village Roadshow Group, Kirk Edwards CEO of Village Cinemas, Mano Tittawella, Chairman/MD of EAP Group, Ajith Amarasekera, Director/ CEO of Galaxy Landmarks, the EAP Group’s Property Development arm and Kasun Jayawardena, COO of EAP Films and Theatres, in Melbourne, Australia on August 28.