Electricity Authority of Cyprus (EAC) insurers are ready to pay up hundreds of million Euro compensation for the damage caused at Vasilikos electricity production plant from the deadly blast of July 11 at the naval base “Evangelos Florakis“, at Mari.

According to reliable sources, representatives of Atlantic Insurance Company are due to visit Cyprus on November 7, to inform the Authority that compensation for the damage will be paid.

Atlantic Company representatives will have a meeting next Monday with the Authority in order to discuss the issue and the ways the payment will be carried out in various phases determined by the two parties.

Cyprus Electricity Authority (EAC) Chairman Charis Thrasou expressed optimism that there will be a positive respond by the insurance company for the compensation