(CNN) Rome – Passengers on the wrecked Costa Concordia cruise ship are expected to receive a compensation lump sum of 11,000 euros ($14,400) each, the Italian Association of Tour Operators said in a statement Friday.

The decision was reached during a meeting between Costa Cruises and consumer groups, the association said. The massive liner struck rocks and rolled over onto its side in shallow waters off an island on Italy’s Tuscan coast on January 13.

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