Arab Finance: ADES Holding Company, the owner of the Adam Marine 12 barge that sank while transporting Egyptian workers to the Gebel El-Zeit area in the Gulf of Suez, unveiled compensation for the families of the deceased, missing, and injured, Minister of Labor Mohamed Gebran stated.

Gebran added that the company's measures include disbursing EGP 5 million to the family members of each of the deceased or missing, whether employed by ADES or by third parties.

This is in addition to financial support to meet their urgent needs, pending the necessary legal measures.

Moreover, the company will continue to pay the monthly salary of each deceased ADES employee to the eligible family members until they reach the default retirement age of 60, taking into account all annual increases and benefits.

The medical insurance coverage will also be maintained for first-degree relatives of deceased ADES employees until the presumed retirement age.

ADES will pay six months' salary to all survivors and injured, in addition to psychological support.

The company will secure comprehensive medical care to all injured employees, including coverage for any treatment needs inside or outside Egypt, as medically necessary, and covering the costs of accompanying family members in case of travel abroad for treatment.

Egyptian textile manufacturer CWA to develop EGP 970M project in SCZone Updated 7/30/2025 12:36:00 PM

Egypt signs MoU with AD Ports to expand cooperation in petroleum sector Updated 7/30/2025 9:30:00 AM

Badawi discusses boosting oil, gas cooperation with Energean Updated 7/29/2025 7:52:00 AM

Madbouly reviews Shell’s activities, investment plans in Egypt Updated 7/28/2025 3:54:00 PM

Agiba Petroleum unlocks 4,100 BOE/day output from Arcadia-28 Updated 7/28/2025 9:28:00 AM