The Egyptian Manufacturers Association has given Al Mohandes Insurance Company a grace period that expires on December 31st to disburse benefit for Mobel Polymers for Polymers, Chemicals & Paints, said Hassan El-Banna, consultant at the Association.
About 320 businessmen at the Association threatened to stop dealing with Al Mohandes Insurance Company, if it did not pay the compensation, he added, noting that the renewals of the insurance contracts will be made next January.
Al Mohandes sent a letter to Mobel Polymers on November 14th asking for the required documents to disburse the compensation. The company replied to the insurance company last week that all documents have already been sent to the company more than eight months ago.
Al Mohandes has to pay benefit of EGP 30 million to Mobel Polymers as its factory in 10th of Ramadan City was set on fire in October 2010. However, the insurance company asked Mobel Polymers to receive benefit of EGP 8 million only, El-Banna said.
The Egyptian Manufacturers Association has agreed with Hany Makary, chairman of Mobel Polymers, to pave the road to Beni Obeid’s Al Tahsin village in Dakahlia by his own money as he has long experience in paving roads with low costs and short time, when the company receives the compensation.
When the residents in the village declared their independence from Dakahlia governorate after decades of neglect, the Association promised them to build a health care unit, but they said that there is no paved road to the village, meaning it is difficult to transport people and bring ambulances to the village, El-Banna revealed.
