Chennai, Feb 25 (IANS): Tamil Nadu has the potential to have over 500 multiplexes as per our research, said Sohan Roy, Founder Chairman and CEO of UAE-based Aries Group and also the director of the controversial movie DAM 999.
He also said the Indywood Billionaires Club (IBC) will identify the billionaires who are interested in the entertainment sector.
"As per our research, Tamil Nadu has the potential to have more than 500 multiplexes across the state. Our role is to identify the billionaires who have the interest in the entertainment sector and create a centralised management system for them to plan full-fledged multiplex in their hometowns," Roy told IANS.
He hoped the first multiplex by a member of the IBC in Chennai will get ready within two years time.
Roy was recently here to launch the Chennai chapter of IBC, a network of individuals with a minimum net worth of Rs. 100 crore. The club would offer investment opportunities for its members.
"Currently, we have more than 200 close associates in this club and more than 600-700 investors who have attended our previous Indywood events, and we are hoping that many of them will join the consortium soon," Roy added.
Roy said IBC has chapters in Kerala, Karnataka, Bangalore, Telangana, and Dubai.
According to him, for converting an existing theatre, it will take about Rs. 1 lakh/seat while for a full-fledged branding theatre it will cost about Rs. 2 lakh/seat.
"Hence, we recommend building a 1000 to 2000 seat multiplex which will cost approximately Rs. 20-30 crores provided you have a land of your own. But, the outlay of a low-cost theatre will be half of the same," he said.