Chemplast Sanmar gets Prohibition Order for EDC plant after fire

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prior close

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AI summary

Following a July 17 fire at the Ethylene-Di-Chloride (EDC) plant at its Karaikal facility in Puducherry, the Inspector of Factories inspected the unit and on July 19 issued a Prohibition Order stopping further usage and operation of the EDC plant. The company must comply with all directives and obtain a Revoke order from the Chief Inspector of Factories, Puducherry. Chemplast Sanmar is undertaking corrective actions and preparing a compliance report with action plan. The extent of damage is still being ascertained.

Likely market impact

The EDC plant at Karaikal is shut until the order is revoked, which may hit production and financials. Impact on operations is being assessed.