Egyptian Mohandes Insurance Company says it has won a policy bid to cover the first part of New Alamein University for Sciences and Technology, according to its chairman and managing director Reda Fathy.
He told Amwal Al Ghad that the policy bid, which include covering the project while implementing it, is with a total sum insured up to one billion Egyptian pounds ($56,968).
The policy will provide insurance coverage against contractors risks during the period of implementing the project , against risks and damages, which can be encountered due to natural disasters during execution of construction works and covering the civil responsibility towards the third party.
The university, which is the first of its kind in the city, is set to open its doors to students in the academic year 2019/2020, and is being developed in three phases.
In December 2017, Egyptian Minister of Housing and Prime Minister Moustafa Madbouly and Minister of Higher Education Khaled Abdel- Ghaffar signed a cooperation protocol to establish New Alamein University for Sciences and Technology in New Alamein City, northwest of Cairo.
The university will contribute to the development of the city, Madbouly said in earlier statement.
The university will include departments of engineering and technology, basic sciences, pharmacy, medicine, international law, management, economics, and political science as well as arts and design.
