Reliance signs JV with Wanda

Anil Ambani's Reliance Group and China's Dalian Wanda Group on Thursday announced a tie-up to develop real estate and movie theatre projects, the latest partnership between Ambani and China.

The groups, which did not give any financial details, said they will first look to build integrated township projects in India involving a combined area of about 20 million sq ft across two projects.

Ambani's Reliance MediaWorks will also explore possible co-operation with Wanda Group in the multiplex business in India and the United States, the companies said in a statement.

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