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Egypt’s Misr Insurance Company has been awarded a new insurance policy for a grain and wheat storage silo project in Noubarya, non-executive board member Mohamed Khalifa announced Monday.
According to Khalifa, the insurance policy is with total sum insured of 125 million Egyptian pounds (US$16.4 million).
The grain and wheat storage silo project is part of the second phase of the Egyptian Supply Ministry’s strategic scheme to establish 25 silos.
Furthermore, Khalifa stated that the insurance policy is to provide coverage against all risks of contractors working on the silo project in addition to the dangers of fire, theft, and burglary during the time of construction works. The project will be carried out in 14 months, he added. 
