Project Description
The project is to support OOO Rising Star Media, a Russian subsidiary of National Amusements, Inc., for the opening and operating of 5 multiplex cinemas in Moscow and St.Petersburg in 2003-2005.
Transition Impact
Through its investment EBRD will:
- support the development of infrastructure for a modernising and fast growing media sector. Cinemas will help to create traffic and extend opening hours of the shopping mall. This is both critical to the success of modern retail and efficient use of urban infrastructure including parking lots and access facilities.
- support the entrance of a strategic investor, a leading international cinema operator,in to the Russian market, and promote competition and contribute to establishing high industry standards in the sector;
- support the development of affordable, safe, good quality entertainment and cultural options for the Russian middle-class and young people;
- support the development of a legitimate media distribution channel which will supply affordable media products and indirectly contribute to counter piracy.
The Client
OOO Rising Star Media is a Russian subsidiary of a partnership between Soquel Ventures Ltd. and National Amusements, Inc.
Soquel Ventures Ltd is owned by Paul Heth, who developed the first western style theatres in Russia in the 1990's and the CineBridge theatres in the U.S. with National Amusements, Inc.
National Amusements, Inc. is a leading cinema operator in the U.S., the U.K., and Latin America which operates more than 1,390 motion picture screens and is the parent company of Viacom, a publicly-traded entertainment and media company.
EBRD Finance
The Bank will provide up to US$ 17 million A/B loan to finance the Project.
Project Cost
The total cost of the project is estimated at just below US$50 million.
Environmental Impact
The project was screened C/0. Environmental due diligence confirmed that there are unlikely to be any significant environmental issues associated with this operation. Potential environmental, health and safety risks are relate primarily to life and fire safety issues associated with the operation of the multiplex cinemas (e.g. installation of sprinklers, emergency evacuation plans), The environmental analysis confirmed that the project complies with all relevant Russian and EU environmental, health and safety standards and requirements as well as international Fire and Life Safety Guidelines.
Technical Cooperation
None.
Company Contact
Paul Heth
General Director of OOO "Rising Star Media"
Tel. 007 095 775 44 88
General Director of OOO "Rising Star Media"
Tel. 007 095 775 44 88
Business opportunities
For business opportunities or procurement, contact the client company.
For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com
General enquiries
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com
Public Information Policy (PIP)
The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP
