CAIRO, Egypt ? The owner of a ferry that sank in the Red Sea last winter, drowning more than 1,000 people, will pay millions in compensation to survivors and victims? families, an Egyptian prosecutor said yesterday.

The owner, Mamdouh Ismail, fled the country with his son shortly before another prosecutor ordered the two, and four others, to face trial on charges of negligence and corruption. He is believed to be in Europe.

The , with roughly 1,400 passengers and crew aboard, sank after a fire broke out in the vessel?s car parking bay while it was en route from Saudi Arabia to Egypt. Most victims were Egyptian workers returning home from Saudi Arabia.

Prosecutor Gaber Rayhan said a total of 330 million Egyptian pounds (US$57 million) would be paid. He did not specify how Ismail had paid the compensation money to the government to hand on to victims, or if it was money the owner had received from insurance payouts.

The family of each victim will get 300,000 Egyptian pounds (US$52,000) and each survivor will get 50,000 Egyptian pounds (US$8,700), the prosecutor said. In addition, people who lost cars will get 70,000 pounds (US$12,000) and truck owners 140,000 pounds (US $24,000). He said the money would be paid within days.

Rayhan said he had ordered the lifting of a previous freeze on the assets of the ship owner and family members because the owner had paid the compensation money.