Egypt’s KIMA endorses insurance policy to cover ammonia-urea complex

The Egyptian Chemical Industries Company (KIMA) said on Monday its board endorsed an insurance policy to cover its ammonia-urea complex under an agreement with Misr Insurance Company.

At a total sum insured of up to 12.46 billion Egyptian pounds ($795.5 million), the insurance policy will cover for KIMA’s complex against all risks.

The policy is valid for one year starting June 26, the company said in a bourse filling. It aims to cover the physical damages, machinery breakdown, and risks related to loss of revenue, the company added.