Israeli Bazan Group reported on Wednesday that damage caused by Iran’s missile attacks on Haifa Gulf refineries and subsidiaries was estimated between $150 million and $200 million, an Israeli source reported.
The company told the Tel Aviv Stock Exchange it has already received a prepayment of 160 million shekels (approximately $48 million) to begin repairs to some of the damage.
Bazan said the progress is against the total direct damage and is working with the Remuneration Fund to ensure additional payments while continuing its rehabilitation efforts.
The attack struck a refinery power generation unit. This is important for producing steam and electricity for the facility. Bazan noted that based on current information and work plans, damage assessments are future-looking and uncertain.
The company said the sudden external halt is complicated and the operation will be restored after the final costs and compensation amount remained unknown.
MNA/