The Pyramids in Egypt could be leased or privatized

March 2, 2013
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The Egyptian government is thinking “in rent or grant concessions” to its archaeological wonders to foreign investors.

That is, for a while privatizing the pyramids and other ancient monuments to address the economic crisis faced by this country for years.

The movement could deliver benefits to the Egyptian coffers of nearly 200,000 billion dollars. A figure that would help to extinguish the country debt.

Adel Abdel Sattar, secretary general of the Supreme Council of Antiquities, has confirmed in an interview aired on “ONTV” that the proposal has been made by the Government.

These would give concessions to investors in other countries, for example to “international tour operators”, some of the “family jewels” of the Egyptian state: the three Pyramids of Giza, the Great Sphinx and the area of the temples of Abu Simbel and Luxor.

According to information published by “Al Arabiya”, Qatar, emirate among the first supporters of Hosni Mubarak dismiss, has expressed interest in managing these important Egyptian archaeological sites for a minimum period of five years.

The sum of money that Egypt would receive in exchange is approximately 200,000 million dollars, enough to pay the huge national debt and revive its economy.

For now, Adel Abdel Sattar only confirmed the existence of the Government’s proposal, while denied that Qatar and other rich Gulf states are tucked into the business.

The head of the Supreme Council of Antiquities has explained that the proposal would have been launched by the Ministry of Economy and the author would Abdallah Mahfouz Egyptian intellectual. Under the plan, these archaeological sites, or at least its management- to be auctioned in a public competition in very short time.