Sigachi Management Announces ₹1 Crore Compensation to Families of Deceased Workers
Hyderabad, July 2 (Maxim News): In the aftermath of the tragic explosion at the Sigachi Industries plant in Pashamylaram, Sangareddy district, the company has announced a compensation of ₹1 crore for the families of each worker who lost their life in the accident. The announcement was made through a formal communication to the stock exchanges by Company Secretary Vivek.
According to the statement, 40 people lost their lives and 33 others sustained injuries in the incident, which occurred earlier this week. The company assured that full medical support will be extended to the injured and nutritional care will be provided to the affected families.
Insurance and Assistance
Vivek stated that all types of insurance claims applicable to the deceased and injured will be settled promptly. He added that the company is committed to supporting the families during this difficult period and will ensure they are not left without assistance.
No Reactor Blast, Says Company
Addressing speculation, the company clarified that the accident was not caused by a reactor explosion, although it did not provide further technical details. “We are waiting for the official report from the government authorities to understand the exact cause of the accident,” the letter stated.
Plant Operations Suspended
As a precautionary and respectful measure, Sigachi Industries has announced the suspension of operations at the affected plant for the next three months. This move comes amid mounting pressure on the company to ensure compliance with industrial safety standards.
The explosion had caused widespread devastation, including the collapse of a building within the factory premises, with rescue operations continuing for over 24 hours. The death toll has since been updated as official bodies continue identification procedures.
Public and Government Response
Chief Minister Revanth Reddy visited the accident site and the hospitals where the injured are being treated. He criticized the absence of Sigachi’s top management at the site following the explosion and instructed officials to hold the company accountable.
The Telangana government is also expected to release a detailed report soon, based on expert investigations into industrial safety lapses and negligence.
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