Three insurers so far in Egypt are bidding to win a new insurance policy for West Cairo power station, sources with knowledge of the matter told Amwal Al Ghad on Thursday.
The policy is total sum insured of up to 4 billion Egyptian pounds ($450.5 million); distributed as 683 million pounds and $383 million, the sources said.
The sum in US dollar currency is designated to provide insurance cover for equipment imported from abroad, the sources added.
Insurers; Misr Insurance Company, Suez Canal Insurance, and Egyptian Takaful Insurance Property and Libility (EGTAK) plan to present their technical and financial offers, bidding to win the insurance policy, the sources said.
West Cairo power station’s insurance policy is designated to insure all risks faced by contractors as well as the station during the construction phase, the sources said.
