A $361 million (6.5 billion rand) lawsuit has been lodged in a South African court by a Japanese insurance company for a claim arising from flood damages suffered in 2022 by Toyota Motors Corp.’s plant near Durban.
The claim against Transnet SOC Ltd., the KwaZulu-Natal Department of Transport and eThekwini Municipality has been brought in the high court in Durban by Toyota South Africa Motors’ insurer, Tokio Marine & Nichido Fire Insurance, Business Day reported.
The claim alleges that the floods, which closed the Prospecton plant for four months, cost the company about 4.5 billion