US taxpayers may cover damages to Gaza power plant

It is likely that the losses sustained by Morganti Development LLC, which owns a stake in the Gaza power plant, will be paid for by U.S. taxpayers, who ironically also help fund the Israeli army.

US taxpayers may cover damages to Gaza power plant

World Bulletin / News Desk

American investment company Morganti Development LLC is owed as much as $84 million in insurance by the Overseas Private Investment Corporation (OPIC), after heavy losses were sustained in the Israeli bombing of a power plant in the Gaza Strip.

On Tuesday, an OPIC spokesman told The Huffington Post that a "U.S. investor in the power plant whose investment is covered by OPIC political risk insurance ... notified OPIC that the facility in question has been damaged."

Although OPIC said that the company, which is yet to release a statement, has not yet filed for the losses sustained in Gaza's only power supplier, in which it holds a stake, it is likely that the losses will be covered by U.S. taxpayers, who ironically also help fund the Israeli army.

However, an OPIC spokesman pointed out that despite media reports, Morganti, a global construction empire owned by Palestinian billionaire Said Khoury, did not file a claim when the same power plant was damaged in 2006.

Amnesty International claimed that the bombing of the plant on Monday amounted to a "collective punishment of Palestinians."

Güncelleme Tarihi: 31 Temmuz 2014, 12:07
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