Egypt’s Mohandes Insurance wins policy bid to cover 500500 Hospital’s building

Egyptian Mohandes Insurance Company says it has won an insurance policy bid against the engineering risks of establishing a new building in 500500, a national tumors hospital, in Sheikh Zayed City, at the outskirts of Cairo.

The insurance policy bid, which include covering the establishment of the new building, is with a total sum up to 800 million Egyptian pounds ($46.2 million), Mohandes’ chairman and managing director Reda Fathy said on Tuesday.

“The policy will provide the insurance coverage against the 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,” Fathy further told Amwal Al Ghad.