Iranian insurer settles petrochemical plant’s huge fire claim
Baku, Azerbaijan, July 10
By Farhad Daneshvar – Trend:
Iran’s Bou-Ali-Sina Petrochemical Company has collected 94 million euros from its insurer to settle claims from a fire incident that damaged its petrochemical plant last year.
Central Insurance company of Iran has covered damages caused by a July 2016 fire that swept through the plant’s p-xylene unit and naphtha storage facilities.
Abdolnaser Hemmati, the head of the Central Insurance of Iran, through a Twitter post on Monday broke the news on the claim settlement and called on the officials to undertake improved risk assessment in order to reduce the risks of such incidents.
The fire broke out due to paraxylene leak at the petrochemical plant in the southwestern city of Bandar Mahshahr and caused no fatalities.
Persian Gulf Petrochemical Industries Company owns 70 percent of the shares of Bou-Ali-Sina petrochemical plant which produces 1.75 million tons of aromatics and by-products per year.