Rel to provide insurance to Jaypee's power plant
Anil Ambani Group firm Reliance General Insurance Company has bagged the contract to provide insurance cover to Jaypee Karcham Hydro Corporation's 1,000 MW Karcham Wangtoo hydro project in Himachal Pradesh.
By PTI |
NEW DELHI: Anil Ambani Group firm Reliance General Insurance Company has bagged the contract to provide insurance cover to Jaypee Karcham Hydro Corporation's 1,000 MW Karcham Wangtoo hydro project in Himachal Pradesh.
The project has been insured for Rs 4,556 crore, of which around Rs 3,652 crore is for material damages and Rs 904 crore for business interruption. The cover is for six years, Reliance General said in a statement.
The total premium of the project was around Rs 90 crore. The converage provided by Reliance General would be backed by International Market Re-insurance support, which would be supported by national re-insurer GIC R, the company said.
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