Egypt is due to open its USD 500 mn Pyramids Renovation Project in Q1 2020, which will be managed and operated by Orascom Investment Holding (OIH), providing first-class facilities and recreational services on-site, Invest-Gate reports.

Assistant Antiquities Minister Hisham Samir said the ministry is set to shortly partner with OIH to offer 70-seat electric buses at Giza Plateau starting April 2020, according to a press statement on August 28.

On December 13, the Supreme Council of Antiquities and OIH agreed that the latter will run the archaeological site. Under the deal, the authority is entitled to a fixed amount of 10% per annum up to the end of the project term, as a guaranteed annual minimum; or an amount equivalent to 50% of the Egypt-based company’s forthcoming net profit, OIH said in a previous bourse filing.

Marking the first time such services are provided to visitors through a specialized private firm, OIH will also organize promotional campaigns for Giza Plateau, managing operations in the parking area located around the entrance of Fayoum Road, providing an internal transport network for visitors, while offering 20 golf carts and 20 mobile toilets.