AlSorayai receives SAR 6.1 million insurance claim for warehouse fire

03/08/2014 Argaam

AlSorayai Trading And Industrial Group Co. received on July 24 SAR 6.12 million in insurance against damages sustained during a fire that erupted in two of its warehouses in May last year, the company said in a statement to the Saudi bourse, Tadawul.

The financial impact of the compensation will be reflected in the 3rd quarter of 2014, it added.

The company said  in April that the insurers had  agreed to pay SAR 20.5 million in damage claims  for the fire that destroyed two raw material warehouses, according to Argaam.

 

In June, it received SAR 11.4 million in insurance money.

 

The Jeddah-based Alsorayai is one of the major carpet and rug maker in Saudi Arabia. 

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