Suez Canal Insurance wins Arish Cement Plant’s EGP2.2 billion Policy

Suez Canal Insurance, a leading Egyptian composite insurer, will provide insurance cover for the second phase of El Arish cement plant, Engineering Sector Head Moshira Maamoun told Amwal Al Ghad.

This comes after Suez Canal Insurance had won an insurance policy on the cement plant’s third and fourth lines project, with total sum insured worth 2.2 billion Egyptian pounds (US$288.3 million).

Speaking to Amwal Al Ghad on Wednesday, Maamoun stated that the policy includes insurance coverage against all risks of construction and installation, in addition to contractors’ dangers and civil liabilities.

It is a 33-month renewable term insurance policy, she added.

Winning the second phase was as a result of Suez Canal’s success in insuring El Arish cement plant’s first phase policy, which included Line I and II, with total sum insured of 2.3 billion pounds, Maamoun elaborated.