SCC Assesses Damage from Fire Incident, Claiming No Impact to Operations

The Siam Cement Public Company Limited (SET: SCC) has published an announcement that on May 9, 2024, at approximately 10:45 a.m., there was smoke at the tank where the hydrocarbon compound C9+ is stored at Map Ta Phut Tank Terminal Company Limited (or “MTT”), a subsidiary of SCC, located at the Map Ta Phut Industrial Port in Rayong Province. MTT immediately controlled the situation according to the emergency response plan by segregating the systems and suspending all activities within the factory in accordance with safety procedures.

From the incident, there were four injured individuals who have been transferred to the hospital and are under medical care. Subsequently, it has been reported that one employee has passed away. Currently, the situation is being controlled and the extent of the damage is being assessed, including the investigation into the cause.

The hydrocarbon compound C9+, by product from the production of reactants for plastic which stored in the tank has been separated into benzene, toluene, and xylene. Currently, this compound is used as a solvent in various industries.

Following the report, Kasikorn Securities wrote citing a comment from the management team from SCC that the company has insurance coverage, but needs more further details and the damage valuation. Still, the incident does not have any impact on the operation of SCC’s petrochemical unit.