{"id":591016,"date":"2023-07-30T00:00:00","date_gmt":"2023-07-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/30\/orascom-pyramids-to-double-investment-in-giza-plateau-redevelopment-plus-tabreed-halts-investment-amid-egp-uncertainty\/"},"modified":"2023-07-30T00:00:00","modified_gmt":"2023-07-30T00:00:00","slug":"orascom-pyramids-to-double-investment-in-giza-plateau-redevelopment-plus-tabreed-halts-investment-amid-egp-uncertainty","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/30\/orascom-pyramids-to-double-investment-in-giza-plateau-redevelopment-plus-tabreed-halts-investment-amid-egp-uncertainty\/","title":{"rendered":"Orascom Pyramids to double investment in Giza Plateau redevelopment. PLUS: Tabreed halts investment amid EGP uncertainty"},"content":{"rendered":"

INVESTMENT-<\/strong> <\/p>\n

#1-<\/strong> Orascom wants to invest another EGP 500 mn on Giza Plateau revamp: <\/strong> Orascom Inves tment Holding (OIH) subsidiary Orascom Pyramids wants to invest a total EGP 1 bn to develop the area around the Giza Pyramids, Chairman Amr Gazarin told Asharq Business ( w<\/a> atch, runtime: 3:<\/a> 45<\/a>). The company has already invested EGP 500 mn to upgrade the area<\/a> around the Giza Pyramids. <\/p>\n

A 50-50 partnership with the state: <\/strong> The government will be entitled to 50% of the company\u2019s revenues and no less than EGP 20 mn per year, Gazarin said, adding that the goal is to double the number of visitors to the area to 5 mn a year. <\/p>\n

#2-<\/strong> EGP uncertainty means no new investment from <\/strong> Tabreed<\/a><\/strong> anytime soon: <\/strong> Dubai-listed district cooling firm Tabreed sees Egypt as a \u201cpromising market\u201d but is \u201cslowing down\u201d plans for additional investment as it waits for a stable outlook on the EGP, Chief Financial Officer Adel Al Wahedi told Asharq Business ( w<\/a> atch, runtime: 7<\/a> :20<\/a>). Tabreed entered Egypt in February 2022<\/a> with a contract to provide cooling services for Marakez\u2019s D5M Mall in New Cairo and in September it landed an EGP 1.6 bn contract<\/a> for the CapitalMed Badr City medical complex . Al Wahedi did not disclose how this would impact its ongoing projects. <\/p>\n

INFRASTRUCTURE-<\/strong> <\/p>\n

An update on the Sokhna port redevelopment:<\/strong> The first phase of the development of the Ain Sokhna port will wrap before the end of 2023, Asharq Business<\/a> reports, citing statements given by Transport Ministry Kamel El Wazir to the press on Thursday. The ministry began the redevelopment of the port in 2021 at a cost of EGP 20 bn. El Wazir\u2019s statements came during a ceremony which saw the ministry hand over the area to the consortium of private-sector companies which will construct a new terminal. Hutchison Ports, Cosco and CMA CGM earlier this year signed an agreement<\/a> with the government for the terminal, which they will manage and operate for 30 years. <\/p>\n

ENERGY-<\/strong> <\/p>\n

Green fuel pilot this month:<\/strong> A ship will be supplied with green methanol at East Port Said port on 16 August for the first time, head of the Suez Canal Economic Zone, Walid Gamal El Din, said<\/a> last week. <\/p>\n","protected":false},"excerpt":{"rendered":"

The company will invest a further EGP 500 mn in its project to redevelop the pyramids area<\/p>\n","protected":false},"author":1,"featured_media":591017,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,10905,8269,93,72,1361,2244,7111,125,209,618,3503,416,896,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-591016","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-cma-cgm","tag-cosco","tag-energy","tag-enterpriseam","tag-green-methanol","tag-hutchison-ports","tag-infrastructure","tag-investment-watch","tag-kamel-el-wazir","tag-orascom-investment-holding","tag-orascom-pyramids-entertainment","tag-suez-canal-economic-zone","tag-tabreed","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"1558642d-7601-4195-a551-3ad914112931","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/7\/1176.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Orascom Pyramids to double investment in Giza Plateau redevelopment. 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The company previously said it will invest EGP 200 mn\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":559015,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/05\/deja-vu\/","url_meta":{"origin":591016,"position":1},"title":"D\u00e9j\u00e0 vu","author":"enterpriseam admin","date":"5 January 2021","format":false,"excerpt":"Orascom Investment Holding (OIH) looks set to snag the contract to develop the sound and light show at the Giza Pyramids after emerging as the sole bidder in the tender launched by the Sound and Light Cinema Company (SLCC). The Holding Company for Tourism and Hotels is now going to\u2026","rel":"","context":"In "Tourism"","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/1\/54.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591525,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/09\/orascom-investment-pays-egp-6-mn-settlement-to-slcc\/","url_meta":{"origin":591016,"position":2},"title":"Orascom Investment pays EGP 6 mn settlement to SLCC","author":"enterpriseam admin","date":"9 December 2019","format":false,"excerpt":"DISPUTE WATCH- Orascom Investment pays EGP 6 mn settlement to SLCC: Orascom Investment Holding (OIH) has paid a EGP 6 mn settlement to the Sound and Light Cinema Company (SLCC) after it failed to carry out contracted work for the EGP 10 mn development project at the Giza Plateau, according\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":566128,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/30\/new-show-at-the-pyramids\/","url_meta":{"origin":591016,"position":3},"title":"New show at the Pyramids","author":"enterpriseam admin","date":"30 May 2021","format":false,"excerpt":"Orascom Investment Holding (OIH) subsidiary Orascom Pyramids will invest EGP 200 mn in the early stage of the Giza sound and light show revamp, which is expected to cost EGP 350 mn when completed, chairman and CEO Hesham Gadallah told Hapi Journal. The company plans to self-finance part of the\u2026","rel":"","context":"In "SPEED ROUND: TOURISM"","block_context":{"text":"SPEED ROUND: TOURISM","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":575095,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/01\/new-tender-for-pyramids-sound-and-light-show\/","url_meta":{"origin":591016,"position":4},"title":"New tender for pyramids sound and light show","author":"enterpriseam admin","date":"1 October 2020","format":false,"excerpt":"The Sound and Light Cinema Company (SLCC) has issued a global tender to develop and manage the sound and light show at the pyramids, according to Masrawy. SLCC has set a 5 November deadline for the submission of bids. SLCC had annulled in 2018 its EGP 10 mn contract with\u2026","rel":"","context":"In "Tourism"","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":575689,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/22\/trials-begin-on-giza-pyramids-electric-bus-route\/","url_meta":{"origin":591016,"position":5},"title":"Trials begin on Giza Pyramids electric bus route","author":"enterpriseam admin","date":"22 October 2020","format":false,"excerpt":"Orascom Pyramids began trialing the new eco-friendly bus route at the Giza Plateau earlier the week after receiving the first electric bus, the cabinet said in a statement. The route, part of the ongoing Giza development project, will feature six stations and take tourists on a circular route between the\u2026","rel":"","context":"In "Tourism"","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/591016","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=591016"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/591016\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/590991"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/591017"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=591016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=591016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=591016"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=591016"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=591016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}