Misr Insurance won Qanater Assiut bid

Misr Insurance won the bid for Qanater Assiut project after fierce competition. The insurance policy covers all risks, including natural disasters, installation and construction breakdown, civil liability against other, machines breakdown, and contractors’ risks.

The new Qanater Assiut Project and its hydroelectric plant costs EGP 4 billion, as part of Ministry of Water Resources and Irrigation’s plan to renew and replace the 100-year-old large water facilities until 2017. This project is financed jointly from local finance and the German government, represented by the German KFW Bank.