On 27 November 2020ITI announced that a fire incident occurred at its Rae Bareli plant in Uttar Pradesh on 27 November 2020. It took around three hours to extinguished the fire successfully.
The probable cause of fire was short circuit. It has affected the production of HDPE shop, partially. As per preliminary assessment, the approximate loss/ damage of capital equipment /infra is of the value of approximately Rs 1.5 crore. The Company has insurance coverage for this and will take necessary action for lodging insurance claim.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.