GNFC tanks on closure of Dahej plant

Owing to a sudden leakage at TDI-II Plant, at Dahej, the company has shut down the plant. The company informed the bourses that the plant is shut as a safety measure. 

The company has informed that there is no loss of life or property at the site and precautions are already put in place to avoid damages. The management has decided to close the plant indefinitely till the root cause is of the accident is probed and the plant is reviewed and evaluated for safety precautions. A mechanical failure in a chemical reactor caused the leakage of poisonous phosgene gas, said news reports. 

The said plant produces TDI used in the manufacturing of flexible polyurethane foam, cushion, gaskets and protective wear for sports and medical. Gujarat Narmada Valley Fertilizers Company (GNFC) is India's leading fertilizer company. 

At 15:12 hours, the stock tanked 10.41 per cent at Rs. 484.30 per share, down by Rs. 56.25 on Tuesday.