UFO Moviez's asset-light franchisee venture Nova Cinemas, has signed an agreement, with Y Screens Entertainment India, to set up over 225 cinema screens in Andhra Pradesh and Telangana by 2020.

Under the agreement, both the firms will set up Y Screens Trade Development Center (YSTDC), which will have two-screen miniplexes among other amenities.

The miniplexes, at the YSTDC centers will be branded and operated as as Y Screen Nova Cinemas, the company said.

UFO Moviez, Special Officer, Vishnu Patel, said, “There is a voracious appetite for quality movie-viewing experience in Andhra Pradesh and Telangana and we wanted to build on that.”

“We aim to bring a great cinema experience for the movie lovers in South India, through this association.”

Y Screens Entertainment CMD Y Ratna Kumar said, “the company is pleased to have entered into this MoU with Nova Cinemas.”

“Nova Cinemas has a deep and wide-reaching ties within the Indian film industry and we look forward to build a mutually beneficial relationship.” said Mr. Ratna Kumar.

Y Screens Entertainment would be making all the necessary investment for setting up the theater, while Nova Cinemas shall provide complete branding support and take care of programming of films at the theater.

There would be 15 YSTD centers established in the first six months while another 200 cinema screens would be set up over the next three years.

By Supraja