The company informed AIT President Said Irandoust of the decision in a
letter on June 27. The financial settlement on AIT’s flood claim will
be disbursed in monthly payments in July, August and September and is
to be spread across five installments.
AIT will receive the first installment of Bt. 30 million on July 15.
The Institute is still waiting for settlement on its claim for damages
to equipment.
Some long-planned rebuilding projects can now move forward, President
Irandoust indicated, such as work to restore academic and
administrative buildings across the 330-acre campus.
“It’s a help, but we are still awaiting insurance compensation for our
lost equipment, which is very substantial,” the president said.
Overall, the settlement is less than the Bt. 285.8 million that AIT had
sought as compensation for losses to its buildings caused by the flood
disaster in Thailand late last year.
The original AIT insurance claim for buildings encompassed a total of
70 buildings, including 15 academic buildings, 15 non-academic and
recreation buildings, and 40 dormitory and staff housing
buildings.
