Mohandes Insurance won EGP1.5bln policy bid to cover Latin Quarter in New Alamein city

Egyptian Mohandes Insurance Company says it has won an insurance policy bid against the engineering risks of implementing the Latin Quarter at the New Alamein city  according to its Chairman and Managing Director Reda Fathy.

Fathy told Amwal Al Ghad that the policy bid, which include covering the project while implementing it against engineering risks, is with a total sum insured up to 1.5 billion Egyptian pounds ($85,567).

The policy will provide insurance coverage against 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.

It will also provide covering over work of excavation,  foundation works and the deep surface, including the work of insulation and the construction of reinforced concrete structure.

The Latin Quarter, having the classical architectural style of Greco-Roman Alexandria, is spanning over 450-feddan quarter with 12,000 housing units as well as educational, health, religious and commercial services.