Business Update8 Mar 2025, 02:48 am
Neogen Chemicals' Dahej Plant Suffers Fire Damage, Operations to Resume in 9-12 Months
AI Summary
Neogen Chemicals Ltd. has updated on a fire incident at its manufacturing plant in Dahej SEZ. The fire was contained to the Multi-Purpose Plant (MPP3), Tank Farms, and warehouse, causing extensive damage. Fortunately, there were no casualties. The reconstruction is estimated to take 9-12 months, with insurance covering the loss of assets and business interruption. The Department of Industrial Safety and Health has issued a stay order on operations at MPP-3, the warehouse, and tank farms. The company has revised its revenue guidance for F.Y. 2024-25 and F.Y. 2025-26 due to the incident.
Key Highlights
- Fire at Neogen Chemicals' Dahej plant causes extensive damage to MPP3, warehouse, and tank farms.
- No casualties reported in the incident.
- Reconstruction of the impacted facilities estimated to take 9-12 months.
- Insurance covers the loss of assets and business interruption.
- Company revises revenue guidance for F.Y. 2024-25 and F.Y. 2025-26 due to the incident.