The deal, announ­ced by AMC in a statem­ent and confir­med by Saudi state media on Tuesda­yRIYADH: Giant US cinema chain AMC Entertainment has signed a deal to build and operate movie theatres in Saudi Arabia after the conservative kingdom lifted a decades-old ban. The deal, announced by AMC in a statement and confirmed by Saudi state media on Tuesday, will see the company form a joint venture with Saudi Arabia’s vast Public Investment Fund. AMC said it hoped to “put the industry’s best foot forward” in Saudi Arabia as the country opens up to modern entertainment. “We… are committed to developing Vox Cinemas in Saudi Arabia and (to) make sure that every one of our Saudi customers will have a Vox Cinema close to them where they will be able to experience what they have been experiencing outside Saudi Arabia — in Saudi Arabia,” he said. Saudi Arabia announced on Monday it was lifting the ban as part of a far-reaching liberalisation drive by Crown Prince Mohammed bin Salman that is shaking up the kingdom.

Source: The Express Tribune December 12, 2017 12:00 UTC