UAE-based
Aries Group said its Indywood Consortium is pressing ahead with a $10 billion
5-year investment plan in India and the Middle East. Aries Group chairman and CEO Sohan Roy said the investment would
generate 100,000 job opportunities within the region and India over 5 years.
Aries
Marine, the flagship company of the group and the largest ship design and
consultancy firm in the Middle East, will increase its market share in marine.
The group will also strengthen its
operations in the tourism and entertainment sector by 2020 and will expand
operations in Malaysia, Singapore, Africa, China and Europe.
"In
entertainment, we will set up multiplex screens, home cinemas, animation/films
schools in India and the Middle East. The
details of other ventures will be announced soon," said Roy whose operates 47 companies in 15 countries.
In
addition to this, the group will produce international movies using advanced
technology and worldwide distribution."We will promote young talents
through movies and it would be a golden opportunity for them to showcase their
talents," said Roy, who is also a Hollywood director.
The
Indywood consortium initiated by Aries Group is an umbrella network connecting
2000 influential and wealthy individuals with the latent potential of India's
multi-billion dollar film and entertainment sector. Several leading
industrialists from across the globe are already members of the consortium,
which was launched recently in Hyderabad under Project Indywood.
The
consortium plans to produce 1,000 movies over the next 5 years, with an added focus on the Indian animation and
television industry.
Through
all this, the consortium aims to ensure efficient monetisation of Indian
cinema's potential and raise its share in global cinema to 40 percent, Roy said at a Press conference.
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