Goa's first-ever multiplex, built in 2004 to host the International Film Festival of India, will be upgraded to world standards by the Entertainment Society of India, the work of which is expected to begin next month, ESG Vice Chairman Subhash Faldesai said on Friday.
The four-screen facility is leased out to INOX Leisure Limited, and as per the Build-Own-Transfer (BOT) agreement, the firm will upgrade the facility and operate it for 12 years, Faldesai said, adding that INOX had deposited Rs 4 crore with the government.
After completion of the new structure, INOX will pay Rs 54 lakh per month to ESG as against the Rs 20 lakh per month paid till now, and there will be a five per cent year- on-year rise in monthly charges to be paid by INOX, he said.
The multiplex was constructed in 2004 under the chief ministership of late Manohar Parrikar to host the first IFFI after demolishing the old Goa Medical College.
Shah Rukh Khan-starrer Veer Zaara was the first film screened at the multiplex at the time.
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