Fire at Sinopec Petrochemical Co plant in Shanghai, China

One person was killed in a fire at the Sinopec Petrochemical Co plant in Shanghai on Saturday. The accident will not affect the market, according to the company.

In a video posted by Shanghai Daily on Twitter, the state-backed Shanghai Daily captured a roaring fire that engulfed a large factory and emitted thick black smoke.

The fire broke out at China’s largest refining and petrochemicals plant around 4 a.m. (2000 GMT Friday). It was under control by 9 a.m., but it was “difficult to manage”, according to state media Xinhua.

Xinhua posted a video online from mid-morning showing a smaller fire, but still releasing black smoke.

A representative from Sinopec said that the driver of a third-party transport vehicle was killed and that a company employee sustained minor injuries.

He stated that the fire had affected the ethylene glycol plant at Jinshan, a suburb in the southwest of China’s financial centre.

Shanghai Petrochemical stated on its official Weibo account that it would cooperate with the government in an investigation into the accident. It stated that the shutdown would not have any significant impact on the market.

According to the company, there was no effect on the water surrounding it.

According to the website, the plant can process 16 million tonnes per year of crude oil and 700,000 tons of ethylene.

Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe or follow SHARE TALK on our Twitter page for future updates. Terms of Website Use All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned

Weekly Newsletter

Sign up to receive exclusive stock market content in your inbox, once a week.

We don’t spam! Read our privacy policy for more info.