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OIH's offer is only one submitted to develop sound, light show area

OIH's offer is only one submitted to develop sound, light show area

ArabFinance: Holding Company For Tourism, Hotels, and Cinema (HOTAC) received an only offer from Orascom Investment Holding (OIH) to renovate pyramids sound and light show area, according to the Hapi Journal website filed to the Egyptian Exchange.

HOTAC is one of the Ministry of Public Business Sector’s companies.

Last September, the Sound and Light Cinema Company (SLCC) launched a global bid with closed envelopes to develop the Giza Pyramids’ sound and light area.

SLCC had annulled in 2018 its EGP 10-million contract with a JV between Orascom Investment Holding and Prism International, saying Orascom breached the terms of the contract by failing to carry out the required work.

OIH hired Hesham Gadallah assumed the position of Chairman and Managing Director (MD) of Orascom Pyramids for Entertainment Projects company, succeeding Ashraf Halim.

OIH, formerly Orascom Telecom Media and Technology Holding, is an Egypt-based holding company engaged in the telecommunications sector. The company’s activities are mainly divided into its global system for mobile communications, media and technology, cable, energy, financial, real estate, and entertainment businesses.

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