Misr Insurance to insure Evergrow Fertilisers’ plant for $78.8 mln

Egypt’s Misr Insurance Company has won a policy bid to insure a fertilisers plant owned by Evergrow, an Egyptian major manufacturer for many kinds of specialty fertilizers.

The plant is located in Abu Rawash, 8 kilometres (to 4.9 miles) the North of Giza, Hossam El-Hefnawy, Head of Insurance Division at Misr Insurance, told Amwal Al Ghad on Sunday.

The insurance policy is with total sum insured exceeding 700 million Egyptian pounds ($78.8 million), El-Hefnawy said.

It is a one-year renewable term, and it involves an insurance coverage of all risks arising out of fire, burglary, earthquakes, floods, explosions, and accidents, he added.