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(Seoul=NSP News Agency) YEON SUN HAN Journalist = CJ CGV will enter the Russian market

CJ CGV has made a Joint Venture agreement with ADG Group, a Russian real estate development company on 23rd at CGV Yong San I park mall. Two companies will open theaters in Moscow one by one and is planning to run 33 theaters with 160 screens by year 2020.

ADG group won the shopping centers development and management project including 39 multiplex cinema complexes in Moscow from Russia government on 2014.

The investment amount is about US$ 990 million with the total construction area of 145,000 square meters. By year 2020, the main focus will be shopping mall on this area and ADG group came to make contract with CJ while searching for theater management company.

This contract was made in the form of Joint Venture company in Hong Kong with the investment of 70% by CJ CGV and 30% by ADG Group.

NSP News Agency/NSP TV YEON SUN HAN Journalist, hanys4017@nspna.com
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