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Over the next three years, the company will open several movie theaters also in other cities of Latvia – Riga, Jelgava, Valmiera, Ventspils and Liepaja, reports LETA.

The future plans of New Europe Cinemas envisage expanding beyond the borders of Latvia and into Estonia, Lithuania, Russia, Belarus and other ex-Soviet countries, as LETA learned from the New Europe Cinemas Director Valters Veidemanis.

"Latvia serves as the launching pad for the project. We plan to attract both local and foreign investments to the project. Talks on the possible cooperation are underway with several local companies," Veidemanis pointed out.

The movie theaters will screen Hollywood films as well as the latest European and Russian films.

The company director believes that the movie theater chain has good business development prospects, regardless of the current economic situation.

The first New Europe Cinemas movie theater in the Baltic States will open in Latvia's second biggest city Daugavpils this August. It will be the first multiplex movie hall in Latgale province and it will be located at the city's largest shopping mall "Ditton nams".

Over EUR 3.5 million (LVL 2.46 million) are planned to be invested in the new movie theater project in Daugavpils.