Egypt Education Platform's EEP Run raises funds for Gaza    IMF approves $1.5m loan to Bangladesh    China in advanced talks to join Digital Economy Partnership Agreement    Egypt's annual inflation declines to 31.8% in April – CAPMAS    Chimps learn and improve tool-using skills even as adults    13 Million Egyptians receive screenings for chronic, kidney diseases    Al-Mashat invites Dutch firms to Egypt-EU investment conference in June    Asian shares steady on solid China trade data    Trade Minister, Building Materials Chamber forge development path for Shaq El-Thu'ban region    Cairo mediation inches closer to Gaza ceasefire amidst tensions in Rafah    Taiwan's exports rise 4.3% in April Y-Y    Microsoft closes down Nigeria's Africa Development Centre    Global mobile banking malware surges 32% in 2023: Kaspersky    Mystery Group Claims Murder of Businessman With Alleged Israeli Ties    Egypt, World Bank evaluate 'Managing Air Pollution, Climate Change in Greater Cairo' project    US Embassy in Cairo announces Egyptian-American musical fusion tour    Japanese Ambassador presents Certificate of Appreciation to renowned Opera singer Reda El-Wakil    Sweilam highlights Egypt's water needs, cooperation efforts during Baghdad Conference    AstraZeneca injects $50m in Egypt over four years    Egypt, AstraZeneca sign liver cancer MoU    Swiss freeze on Russian assets dwindles to $6.36b in '23    Amir Karara reflects on 'Beit Al-Rifai' success, aspires for future collaborations    Climate change risks 70% of global workforce – ILO    Prime Minister Madbouly reviews cooperation with South Sudan    Egypt retains top spot in CFA's MENA Research Challenge    Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    Debt swaps could unlock $100b for climate action    President Al-Sisi embarks on new term with pledge for prosperity, democratic evolution    Amal Al Ghad Magazine congratulates President Sisi on new office term    Egyptian, Japanese Judo communities celebrate new coach at Tokyo's Embassy in Cairo    Uppingham Cairo and Rafa Nadal Academy Unite to Elevate Sports Education in Egypt with the Introduction of the "Rafa Nadal Tennis Program"    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Orascom to co-manage sound and light shows at Giza Pyramids
Contract term is 15 years, and Sound and Light Company gets 17% of contract's revenues at minimum of EGP 36m
Alyaa Stohy Published in Daily News Egypt on 15 - 06 - 2021

Egypt's Sound and Light Company and Orascom Investment Holding Company have signed a contract to develop and co-manage the sound and light shows at the Giza Pyramids.
The contract was signed in the presence of: Hisham Tawfik, Minister of Public Enterprise Sector; Khaled El-Anani, Minister of Tourism and Antiquities; Ahmed Rashid, Governor of Giza; and Zahi Hawass, Egyptologist and former Minister of Antiquities.
The signing was also attended by: Naguib Sawiris, Managing Director of the Orascom Investment Holding; Mervat Hataba, Chairperson of the Holding Company for Tourism and Hotels (HOTAC); and Adel Wali, Executive Managing Director of HOTAC.
For his part, Tawfik stressed that the signing comes as part of his ministry's strategy to develop and reform its affiliated companies. This includes efforts to improve the management of assets and investments these companies own, and partner with the private sector.
The Ministry of Public Enterprise Sector is also keen on improving the services provided to Egyptians and tourists at the Giza Pyramids plateau. It seeks to develop the sound and light shows using modern technology, while preserving the historical content of the shows, in a way that contributes to promoting tourism in the region.
Tawfik said that the Sound and Light Company had launched an international bid to develop and co-manage the sound and light shows at the Giza Pyramids in September 2020.
Four companies submitted their bids, and a technical and financial offer submitted by Orascom Investment Holding was approved at a cost of EGP 200m, which will be pumped into the project within 16 months.
The contract term is 15 years, and the Sound and Light Company gets 17% of the project's revenues at a minimum of EGP 36m, an increase of 7% cumulatively annually.
For his part, Sawiris said, "Our goal is to raise the quality of services provided and use the latest technology in management and operation to turn it into a global entertainment area that attracts visitors more than once."
He added, "We are working to develop the surrounding area to be the best front for Egypt."
It is worth noting that the Sound and Light Company is affiliated to the Holding Company for Tourism and Hotels (HOTAC) of the Ministry of Public Business Sector.
Orascom Pyramids, an Orascom Investment company, has also already started implementing the comprehensive development plan for the Giza Pyramids Plateau area, based on the contract it signed with the Supreme Council of Antiquities. It includes upgrading the services provided to visitors, as well as the area designated for display.

Clic here to read the story from its source.