Al Sorayai to receive SAR 20.5 million insurance to cover fire damage

15/04/2014 Argaam

Al Sorayai Trading And Industrial Group Company, a carpet maker and a retailer, got the approval from its insurers to receive SAR 20.5 million in compensation for damages occurred during a fire that destroyed two warehouses last year, the company said in a statement to the Saudi bourse, Tadawul.

The financial impact of the compensation will appear in the 2nd quarter of 2014 fiscal year.

The wall-to-wall carpet and rug maker said in May 2013 that a fire had damaged two warehouses used to stock raw materials, according to Argaam. 

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