Echo Cinema to build network

Alan Heath
23-04-2001, 00:00

Echo Cinema to build network

Echo Cinema, the largest domestic operator of traditional cinemas, has now branched out into the multiplex business. The company has already commenced a PLN90m investment in Częstochowa, Opole and Bielsko-Biała. The strategy of the company is to build small cinemas that can seat up to 2,000 in the entire multiplex unit. These cinemas will be located in those cities that so far have not attracted the attention of the major operators. The Częstochowa cinema will be the first, opening its doors for up to 1,900 people from October. In December the slightly smaller seven screen multiplex at Bielsko-Biała will open. The Opole facility will be the smallest with six screens and 1,300 seats. Aleksander Walczak, MD of Echo Cinema comments that the largest cities are now reaching saturation point and the big operators have forgotten about regional centres which have a great deal of potential. The company has also signed two contracts for further investments. One will be a eight screen cinema in a Gdansk housing estate which will open in October 2002 and in March 2003 a multiplex will open in Kielce. Both cinemas will cost around PLN20m to build. Aleksander Walczak claims that funds have come from their own resources and credits. He is currently negotiating with a venture capital fund on sharing the risk in the next projects.

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