The Antiquities Ministry has completed the second phase of the development project in the Giza Pyramids archaeological area, which is planned to be inaugurated in May, Al-Borsa news reported. According to the head of Engineering Projects Sector at the ministry, Waadallah Aboulella, the flotation of the Egyptian pound caused an increase in the cost of archaeological development projects. He added that the cost of the second and third phases in the development of the Giza Pyramids project rose to LE90 million compared to LE69.5 million, an increase of almost 23 percent. The total project cost was estimated at LE349 million before the flotation decision. The project's total expenditure has reached LE200 million so far.

Source: Egypt Independent March 19, 2017 13:18 UTC