According to reports, a Mexico-based multiplex operator, Cinepolis is eyeing to expand its footprint in India.

The company entered India in 2009 and hopes to invest US$350 million (RS1600 crore) in the next five years to operate 50 screens in 40 cities.

The company, which was founded in 1971 in Mexico, becomes the world’s fifth biggest movie theater circuit, operating 2,257 screens in 240 cinemas in six nations. The company runs its screens under four brands than span segments.

Further, the company has a total workforce of 15,190 people.

While talking to reporters, the country head and managing director of Cinepolis India, Milan Saini said, “In a megaplex with 10 screens, we would have the potential to run 50 shows in a day, which would provide a platform to small-budget films, too. A large number of screens would provide us long-term sustainability, as the Indian film industry presently churns out nearly 1,000 films every year, so there would be no dearth of content.”

Further, Mr. Saini said, “Cinepolis has aggressive expansion plans in India, as we feel the Mexican market is saturating. We are exploring newer markets. With rising per capita income, people's propensity to spend on movies has increased and we see an opportunity there.”

According to Mr. Saini, there are 40 screens per million people in Mexico and 120 screens per million in the United States, the number quite low compared to India, where it is 0.6 screen per million people.