Marwan Hussein, Managing Director of Orascom Investment Holding, said the company was not contracted for the tethered balloon project inside the visitor area of the Giza Pyramids Plateau, even though the contract between the Supreme Council of Antiquities and Orascom Pyramids stipulates the company's exclusive right to any commercial activity within the visitor area, and that such activities be contracted through Orascom.
A statement from the Orascom group said the balloon project had been the subject of an ongoing dispute between the company and the Supreme Council of Antiquities. The company made numerous attempts to reach a solution satisfactory to all parties, but this has not happened so far. In addition, the company was not notified or consulted about the project's implementation stages, and was surprised by the announcement of the actual operation of the tethered balloon project.
The company explained that the site where the tethered balloon project has begun operating lies within the scope of the project contracted between Orascom Pyramids Entertainment and the Supreme Council of Antiquities, and therefore any activities or procedures carried out within this scope must comply with the governing contractual frameworks and obligations and be coordinated in advance with the company and the relevant authorities.
The company stressed that it retains all its legal and contractual rights under its contract with the Supreme Council of Antiquities, as well as its right to take all measures guaranteed by the contract and the law to protect its rights and interests.
Orascom Investment Holding affirmed its commitment to its responsibilities for developing, organizing and improving the visitor experience at the Giza Pyramids, and its keenness to continue cooperating and coordinating with the Supreme Council of Antiquities and all relevant authorities, preserving the rights and obligations of all parties and supporting the goals of developing the area within the governing legal and contractual frameworks.
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