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Photo of a Taba resort before the floods (Photo by Thoraia Abou Bakr)

Misr Insurance pays EGP 127.5m in compensation for Taba Heights torrent damages

By Abdel Razek Al-Shuwekhi and Mohamed Azab Misr Insurance Company has paid EGP 127.5m in total compensation to Orascom Hotels & Development Company for the material damage suffered by the latter’s  hotels in the Taba Heights resort. The damage were the result of strong torrents witnessed by Taba, South Sinai, during May 2014, according to …