The massive damage caused to the Bazan Group's facilities following the Iranian missile attack on the Haifa plant is estimated at \$150 to \$200 million, the company reported Wednesday to the Tel Aviv Stock Exchange.

The company’s management stated that it has already received an advance payment of NIS 160 million (approximately \$48 million) to begin repairing part of the damage. “It is emphasized that this is an advance payment against the total direct damage, and the company is working with the compensation fund to receive additional advances, alongside ongoing restoration efforts and the emergence of further expenses,” the statement said.

“The company's estimate regarding the scope of the direct damage is forward-looking information, as defined, and as such is uncertain and may differ from what is currently expected. The estimate is based, among other things, on the company’s work plan and the extent of the damage identified so far.

The operation and rehabilitation of the group’s facilities following a sudden shutdown, particularly one caused by external damage, are complex processes that involve many elements of uncertainty. Accordingly, the actual extent of the damage, the method of restoring the affected facilities, the total cost, and the amount of compensation to be received are not yet certain,” the company noted.

During one of the Iranian attacks on the company’s Haifa facilities, three employees were killed while in the most fortified interior room on-site.