ArabFinance: Orascom Pyramids, a subsidiary of Orascom Investment Holding (OIH), has signed a contract worth EGP 170 million with Orascom Construction Plc (ORAS), Hapi Journal reported.

Under the contract, Orascom Construction will handle renovations works to boost the efficiency of buildings at the pyramids of Giza area where the sound and light show takes place.

This comes within the framework of the cooperation between the Supreme Council of Antiquities (SCA) and Orascom Pyramids, the main developer and manager of the project.

It is worth noting that OIH previously signed a nine-year term loan agreement with the National Bank of Egypt (NBE) at a value of EGP 311 million to finance the development of the sound and light show project at the Pyramids of Giza.

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.