“This strategic move aligns with Sigachi’s long-term vision of operational resilience, safety-first design, and continued global leadership in the excipient industry,” it said.
This comes just after 36 people died in the explosion at the company’s pharma plant in Pashamylaram, Telangana.
Around 90 people were working at the plant when the accident occurred, reportedly due to a chemical reaction, which also triggered a fire, the state health minister Damodara Raja Narasimha had said. The explosion was so powerful that some of the workers were thrown nearly 100 metre away, eyewitnesses had said.”While the investigation committee continues its work on the recent tragedy at Sigachi’s Pashamylaram unit, the company is actively building forward,” the company said on Thursday, August 7. It said the Dahej MCC plant reflects the company’s determination to rise stronger with smarter systems, globally benchmarked safety features and capacity augmentation focused on uninterrupted supply to its global clientele.
With this installation, its total MCC capacity will rise to 30,000 MTPA.
“The incident at Pashamylaram was a moment of deep sorrow. Yet, Sigachi stands tall— resolute in our values, committed to learning, and determined to build back stronger,” Amit Raj Sinha, the company’s MD and CEO, said.
Shares of Sigachi Industries declined 9.1% to hit an intraday low of ₹34.58 per share. It has declined 27.6% in the past month and 36.4% this year, so far.
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