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Prism International will re-compete to develop Sound and Light Shows with a new local investor

Tuesday 05 February 2019 10:57 AM

Pierre Marcout, Chairman of Prism
Pierre Marcout, Chairman of Prism

By Khaled Badr Eldin:

Mr. Pierre Marcout, Chairman of Prism International, comments on his stance on the Sound and Light Project contracted with the Egyptian government and which was recently canceled.

- First, what are the procedures taken, at present, by the company after the announcement of the annulment of the contract?
 As you know we are working on this project since 2011, it has been 7 years for us. It was a long process to convince the Government and the Sound & Light Co. to have a new up to date, High International Show, dedicated solely for the Pyramids. At this stage, our Production is already made for 50% of the show.  Right now with the annulment of Orascom, we have recently received the possibility to present a new concept with a new investor who is more serious then the previous time wasters, he has the capability to invest the correct amount to do this show justice, the country justice. So we are waiting for the official answer to present this new proposal with our same concept for this show.

- The Prism company holds its Egyptian partner responsible for the failure of the project, while Orascom says that it provided all the necessary funding for the project   while Prism did not implement what is required of them... What is your response to that?

Unfortunately, we never saw the real intention from Orascom to invest the money they promised to input on the project. They always had some excuse to lag. Even their part in capital of the operative company was never invested by Orascom. I don’t know if from the beginning their intentions were to take as much as they can from our side, all our Know how, the artists and technical descriptions for the Show for free to learn and deceive this way. Or if it was their financial cash flow issues that did not make them able to bring in the cash they had committed, but by the fact the cash was not there the Production must be stopped, and this was the reason the government wanted to terminate the contract.

On Orascoms side, they were supposed to start the construction from September 2017 but nothing moved from this date, they are a construction company with history. On our side we finished to deliver all our artistic and technical description, this is what we do for decades with our previous shows which have all gone smoothly. It was really sad to have to stop on such a beautiful project. In 20 years of our company we have never seen such a situation.   

- It is said that all your requests for the implementation of the project are fully met during the tenure of former Minister of Investment, Ashraf Salman, including the absence of a letter of guarantee and the increase of the duration of the contract... How were the negotiations with the government during the implementation of the project? and why was the cost of investment project reduced? and what is the expected return?

We are trying to be close to the government to find an alternative solution, because our Artistic Project was approved, as well as our script, and our technical concept. We know this concept can be one of the most innovative technology Show around the world, it will be great for egypt if done well, and can permit to attract more visitors on this sublime location. my team and I have kept the same passion to give to Egypt the Show they need for their reputation and their attraction, we are driven to create. We want to bring a real solution with some strong investors who really want and wish to contribute to Egypt in a positive way in offering such Show.

We are believing on the Egyptian Leaders to guide their decision on this right way to provide by our solution to make quickly  in continuation of our production work this show for the Best for your country.

- There reports about the reconciliation with the government with paying sum of money for the delay in implementation, what is your opinion?
No comments on this internal discussion but our company is very protecting by our actual contract.

- Did you ask from the President of France to intervene to resolve this problem during his visit to Egypt?

No, we did not want to make any pressure on the Egypt authority, and we are expecting their decision will be loyal and without any bad intervention from some parts of the government. Of course Our French President will be very happy and proud by the fact a French company can bring their talent and world wide experience to contribute to the Highlight of Egypt patrimoine. On the same way 50 years ago the french Minister and writer ~Andre Malraux, brought the first Light and Soul show on the pyramid.

- Do you have any intention to compete again for the project if it is offered with new conditions?

Of course we have a lot of passion for this project , we knew so well what we can do to create the Incredible show on the Pyramids.The conditions must be reasonable and permit to the investor to find the way to have return on his investment.

- What is your vision to invest in Egypt during the current time and do you have any intention to enter the local market from a new door other than the the Sound and Light Project?

At the moment we declined other proposition because we are completely convinced this is the project we must do in Egypt, not only for us but for the population and Egypt. So we concentrate our efforts on it.