Misr Insurance wins Grain Silo Project’s EGP121 million Insurance Policy

Misr Insurance Company – Non Life was awarded an insurance policy worth 121.8 million Egyptian pounds (around US$16 million), sources with knowledge of the matter told Amwal Al Ghad on Monday.

The insurance policy is in favour of a project to establish a wheat and grain storage silo in Beni Suef governorate, with total sum insured of 121.8 million Egyptian pounds.

The silo project comes as part of the second phase in the national plan adopted by the Egyptian Ministry of Supply to build 25 silos.

The sources further said the insurance policy would include providing coverage against the risks met by contractors during establishing the silo in addition to other risks of fire, theft, and burglary.

The project will take place for up to 14 months, the sources noted.