Cairo – Mubasher: Orascom Investment Holding (OIH) said that its subsidiary Orascom Pyramids Entertainment signed a settlement agreement concerning a contract for running and developing sound and light shows at the pyramids of Giza.  

Orascom Pyramids Entertainment is a joint venture between Orascom Investment and France’s Prism International.

The Egyptian-French consortium has settled disputes with Misr Company for Sound and Light, a subsidiary of Holding Company for Tourism and Hotels (HOTAC), on 4 March, according to a filing to the Egyptian Exchange (EGX) on Thursday.

In January, the chairman of Orascom Investment Holding Naguib Sawiris denied cancelling the deal for operating facilities at the pyramids of Giza.

In August, the assistant of Egyptian antiquities minister, Hisham Samir, stated that the $500 million Pyramids Renovation Project will be inaugurated by the first quarter of 2020.