Credit Bank fire-caused losses more than $6 million: director

KUWAIT: Kuwait Credit Bank (KCB) General Director Salah Al-Mudaf said yesterday that losses inflicted at the news headquarters building due to the recent fire did not exceed KD 2 million ($6.5 million), noting that they would be covered by the insurance company, not public funds.

Mudaf, speaking at the project site in South Surrah, indicated that the fire caused delay of the venture handover for six months, maximum. The fire, losses of which were estimated at five percent of the project value, caused no injuries, he said, lauding the extraordinary efforts by the Kuwaiti firemen who doused the flames. A new plan is in the offing to complete this vital project, one of the State of Kuwait key ventures. – KUNA


This article was published on 28/06/2017