Italy's Erg Wins Payout

摘要

Italy's second-largest refiner, Erg, said Friday it had reached a settlement with its insurer, Assicurazioni Generali, which is to pay ?280 million ($373 million) for damages suffered by Erg-owned Isab Energy from an accident at its Priolo power plant in Sicily last October. An initial tranche will be paid in early April, 50% by the end of 2009 and the full amount by June 2010.