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Suez Canal Insurance wins contract to insure drilling equipment for $2 million

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Egypt's Suez Canal Insurance Co. has won a contract to insure the one of the drilling equipment designated to build a new tunnel under the East Port Said, reported Amwal Al Ghad.

Tarek Qadry, an official at the insurer, said that the equipment will be covered for 17 million Egyptian pounds ($2 million).

The insurance policy covers all risks of land transport as well as risks of property damage arising out of loading or unloading operations.

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