Tragic Explosion at Sigachi Industries: Hyderabad Plant Faces Closure
Sigachi Industries' Hyderabad plant faced a severe explosion, tragically resulting in at least 12 deaths and leaving 34 injured. Production will be paused for 90 days to repair damages, while the company ensures safety and addresses legalities. Efforts are underway to optimize output from other facilities.
- Country:
- India
A devastating explosion rocked Sigachi Industries' Hyderabad plant, leading to the deaths of at least 12 workers and injuring 34 others. The severe incident has prompted the pharmaceutical company to halt operations at the site for approximately 90 days to address damages and prioritize safety protocols.
The explosion caused significant damage to key manufacturing infrastructure and ancillary equipment within the Hyderabad facility. The company is currently conducting an in-depth assessment and has assured coordination with relevant authorities to adhere to safety and support measures, they reported in a regulatory filing.
The Hyderabad plant is one of three facilities operated by Sigachi Industries for Microcrystalline Cellulose production, contributing notably to its overall capacity. Despite the setback, production continues at other sites in Gujarat. The company, which saw an 11.58% dip in its stock value, remains committed to resolving the situation swiftly with enhanced safety measures.
(With inputs from agencies.)
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