{"id":605020,"date":"2018-12-19T04:17:38","date_gmt":"2018-12-19T04:17:38","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/19\/slcc-annulls-usd-10-mn-giza-plateau-development-contract-with-oih\/"},"modified":"2018-12-19T04:17:38","modified_gmt":"2018-12-19T04:17:38","slug":"slcc-annulls-usd-10-mn-giza-plateau-development-contract-with-oih","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/19\/slcc-annulls-usd-10-mn-giza-plateau-development-contract-with-oih\/","title":{"rendered":"SLCC annulls USD 10 mn Giza Plateau development contract with OIH"},"content":{"rendered":"

Sound and Light Company scraps USD 10 mn Giza Plateau development contract with OIH:<\/b> The Sound and Light Cinema Company (SLCC) is working to annul its contract with Orascom Investment Holding (previously known as OTMT) for the USD 10 mn development project at the Giza Plateau, Egyptian General Company for Tourism and Hotels (EGOTH) Chairperson Mervat Hataba tells Al Mal<\/a>. The company has failed to begin work on the project, despite the grace period officially ending tomorrow, sources tell the newspaper, and SLCC is annulling the contract on the grounds that OIH did not meet its contractual obligations. According to the newspaper, OIH and Prism Entertainment \u2014 which was partnering with OIH to help develop and run the sound and light show \u2014 reached a disagreement over Prism reportedly failing to carry out the work it was responsible for under the partnership, despite OIH dishing out some EGP 30 mn for the French company. SLCC now plans to re-issue its tender for the contract, and OIH intends to submit a bid again<\/b>, OIH CEO Tamer El Mahdy said.<\/p>\n

Background:<\/b> Prism had entered into an agreement with Saudi-owned City Stars Properties in 2015 to spend USD 50 mn improving SLCC facilities and services at the Giza Plateau. OIH later bought out City Stars\u2019 share<\/a> in the project after the Saudi company decided to quit the project for reasons that remain unclear.<\/p>\n","protected":false},"excerpt":{"rendered":"

Sound and Light Company scraps USD 10 mn Giza Plateau development contract with OIH: The Sound and Light Cinema Company (SLCC) is working to annul its contract with Orascom Investment Holding (previously known as OTMT) for the USD 10 mn development project at the Giza Plateau, Egyptian General Company for Tourism and Hotels (EGOTH) Chairperson […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[3211,72,3620,618,2380,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-605020","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-egyptian-general-company-for-tourism-and-hotels","tag-enterpriseam","tag-giza-plateau","tag-orascom-investment-holding","tag-speed-round","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"a771f983-dda8-4ef8-992d-46999a9d0ea5","order":"0","is_powered_by":true,"section_story_id":"2b7447c1-fd90-4e93-9d7d-b8757b670552","story_type":"1","photo_url":"","photo_position":"above","related_issue":[605006],"teaser":"","voice_url":""},"yoast_head":"\nSLCC annulls USD 10 mn Giza Plateau development contract with OIH - 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USD\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":599587,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/03\/somethings-going-on-out-by-the-pyramids-but-we-cant-quite-put-our-finger-on-it\/","url_meta":{"origin":605020,"position":2},"title":"Something\u2019s going on out by the Pyramids, but we can\u2019t quite put our finger on it","author":"enterpriseam admin","date":"3 January 2019","format":false,"excerpt":"Something\u2019s going on out by the Pyramids, but we can\u2019t quite put our finger on it: The latest turn in the saga between Naguib Sawiris\u2019 Orascom Investment Holding (OIH) and Prism International sees Prism ceding its exclusive right to run the Sound and Light show at the Giza Plateau to\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":594048,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/17\/public-enterprises-ministry-reaches-settlement-with-oih-over-slcc-dispute\/","url_meta":{"origin":605020,"position":3},"title":"Public Enterprises Ministry reaches settlement with OIH over SLCC dispute","author":"enterpriseam admin","date":"17 October 2019","format":false,"excerpt":"DISPUTE WATCH- OIH-Prism JV, Sound and Light Company reach settlement over contract annulment: A JV between Orascom Investment Holding (OIH) and Prism International has reached a settlement agreement with the Sound and Light Cinema Company (SLCC) over the annulment of a EGP 10 mn contract to develop the Giza Plateau,\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":591525,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/09\/orascom-investment-pays-egp-6-mn-settlement-to-slcc\/","url_meta":{"origin":605020,"position":4},"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":634605,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/18\/slcc-to-discuss-giza-plateau-development-plan-with-orascom-next-week\/","url_meta":{"origin":605020,"position":5},"title":"SLCC to discuss Giza Plateau development plan with Orascom next week","author":"enterpriseam admin","date":"18 January 2018","format":false,"excerpt":"The Sound and Light Cinema Company (SLCC) will meet next week with executives from Orascom Telecom Media and Technology Holding (OTMT) to discuss the details of the Giza Plateau development project now that it has received preliminary approval, Al Shorouk reports. 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