Project Description
This document is a re-issued version of one originally disclosed in June 2003. The project has been modified in scope and now plans to create a chain of 12 (previously 20) multi-screen cinemas in the Russian Federation under the Cinema Park company which was established in 2002 and currently operates from its offices in Moscow. The company has already opened two cinemas in Moscow and is planning to open additional cinemas in several cities in the Russian Federation, including Moscow, Saint Petersburg, Krasnoyarsk, Perm and other regional cities. Cinema Park will acquire or lease retail space in shopping malls and entertainment centers, as well as in free standing buildings in these urban centers located in highly populated areas with good access to public transportation. The total project cost is estimated at $128 million.