LG Chem Reacts To Vizag Plant Gas Leak; Says Will Probe Mishap

Vizag Gas Leak:  - Sakshi Post

SEOUL: The gas leak at the Visakhapatnam polymers plant has been brought under control, the LG Polymer unit’s South Korean parent firm, LG Chem said in a statement on Thursday. The firm said that it would also look into what caused the gas leak and conduct an enquiry into the matter.

A representative of the South Korean firm said that a night shift worker had noticed gas leaking from the tank at a time when the production activity at the plant was being restarted after the lockdown relaxations.

''We are currently assessing the damage done to the villagers. We are also taking necessary steps to protect the locals and our employees with the help of state officials concerned,'' it said in a statement. The company wished the victims a speedy recovery and that they would be extended all help for treatment.

After the news of the gas leak broke out, shares of LG Chem started trading at a loss. LG Chem, which acquired Hindustan Polymers, set up the plant in 1997 under the name of LG Polymers India Private Limited (LG PI). Last year, the company reported revenues of $ 223 billion and a net profit of $ 6.3 billion.

Eight people have died and several others are being treated in various hospitals after the gas leak occured in LG Polymers in the early hours of Thursday morning.

Also Read: Vizag Gas Leak Tragedy: Centre Forms Special Probe Panel

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