Pyramid Saimira enters China; inks JV with Longzhe Group

MUMBAI: Pyramid Saimira Theatre Ltd has now entered the Chinese market. The China Society of Music Research Board (CSMRB), Ministry of Culture, Government of People’s Republic of China and India’s Pyramid Saimira Theatre Ltd (PSTL) have signed an Arts and Cultural cooperation agreement by which CSMRB and PSTL will take many measures to promote cultural cooperation between India and China.

The company also inked a joint venture agreement with Longzhe Group.

PSTL will bring cultural specialist in the field of Arts, Film, TV, Music and Dance. CSMRB will also offer policy guidelines and business consultations for PSTL’s foray in China’s cultural industry.

Further to the agreement above, a new joint venture Company Jiangsu Pyramid Longzhe Group supported and approved by China Society Music Research Board (CSMRB), which is under the Ministry of Culture of the People’s Republic of China, has been formed to operate theatres / distribute films and engage in other entertainment / arts and cultural activities in China.

The MOU between PSTL and CSMRB was signed at Beijing, in the presence of top delegate from the Chinese government. As part of cultural co relation agreement CSMRB and PSTL successfully presented Ey Aa O, a cultural exchange event between the two countries in Nanjing. As a part of the exchange, PSTL had brought a huge cultural delegation that had performed twice in Nanjing and their 3rd show was in Beijing on March 19, 2008 at China Child Art Theatre Hall, Beijing. It is a matter of great pride for PSTL not only to enter China but also to organize for a cultural show in the year that the Olympics would take place.

China has a regulated entry on arts / culture / films and hence this entry of Pyramid Saimira group symbolizes the credibility the group enjoys and a dawn of new refigured entertainment industry in mainland china.

Pyramid Saimira Group managing director P S Saminathan said, "It is a matter of great pride for our company, to sign the agreement with CSMRB. It is a great honor to pyramid Saimira group to get entry into china’s highly regulated growing culture and entertainment industry. Pyramid Saimira always believed in faster growth and expanding in uncharted territories. China has great entertainment potential given the growing affordability of the entire population and the willingness of new generation to avail multi faceted entertainment product and services. We will create a huge theatre chain network / food courts / gaming parlors and offer other entertainment services. We will also bring international content to china and will also showcase and market local Chinese content across the world. This entry will strengthen the growing Exhibition and content business of our group and will in a very short time make us the largest exhibitor in the world."