This investment brings OPE's total share in the long-awaited project to EGP 1.5 billion, Gazarin said in an interview with CNBC Arabia.

OPE has been working on developing the Pyramids area under a 2018 cooperation protocol with Egypt's Supreme Council of Antiquities, part of the Ministry of Tourism and Antiquities.

Gazarin noted that the project's primary goal is to enhance the visitor experience at the pyramids, which is expected to attract more tourists.

He explained that the partnership with the Egyptian government involves revenue sharing and expects to start recouping investment costs by 2026.

The project is part of the country’s efforts to upgrade services at the Great Pyramids of Giza, one of the world's most important tourist destinations.

The tourism sector is a major source of foreign currency for Egypt. According to official data, its revenues in the first half of 2024 hit $6.6 billion, compared to $6.3 billion in 2023 and $5.6 billion in 2010.

Between January and June, Egypt attracted a record-breaking 7.069 million tourists, with plans to attract 30 million by 2028.

In previous remarks, Gazarin stated that OPE aims to double the number of annual visitors to the pyramids from 2.5 million to five million, focusing on increasing the proportion of foreign tourists, which currently stands at 30 percent.

As part of the project, the first-ever restaurant and lounge on the Giza Pyramid plateau was inaugurated in October 2020, offering a unique view of the nine royal tombs. Moreover, trial operations began for an environmentally friendly electric bus service that connects the visitor centre to various points of interest on the plateau.

Meanwhile, in September 2022, pilot operations for the first phase of the Giza Plateau Facilities Development Project were launched. This phase encompasses the new main gate on the Cairo-Fayoum Road, the visitor centre, the international restaurant complex, and the Khufu restaurant.