Misr Insurance Company submitted an offer to Egyptian Steel Company to insure the company’s new factory in Beni Suef, said Mosaad Marzouk, head of engineering sector at Misr Insurance Company.
Insurance companies compete to insure the factory which seeks all-risk coverage over the installation of equipments, machines and production lines, in addition to third-party liability insurance coverage.
The company has not decided yet the date of opening the bid envelopes as the project is at its first steps, he added noting that the volume of the project’s investments reached EGP 1.5 billion.
It is worth mentioning that Egyptian Steel Company signed a contract last Monday with Hassan Allam Holding for installing electrical wiring, delivering water and natural gas and constructing roads to the company’s factory in Beni Suef at costs of EGP 220 million.
