Antony Waste shares tumble 5% after waste mound collapse at Pune facility; workers feared trapped
Shares of Antony Waste Handling Cell tumbled 5% to their day's low of Rs 431 on the BSE on July 8 after the company informed
Shares of Antony Waste Handling Cell tumbled 5% to their day's low of Rs 431 on the BSE on July 8 after the company informed exchanges about a serious incident at its Waste-to-Energy (WtE) facility in Pimpri Chinchwad, Pune, Maharashtra.Rescue operations are currently underway to search for and assist individuals who may be trapped under the debris. The company said the number of people injured or otherwise affected is still being ascertained and will be confirmed by the concerned authorities, the company said in a regulatory filing. The company said a waste mound located outside its PCMC Waste-to-Energy plant collapsed after becoming unstable due to continuous and exceptionally heavy rainfall.
The debris fell onto the administration building, leading to the collapse of the structure.According to the company, emergency response measures were initiated immediately after the incident. Personnel from the Fire Brigade, the Disaster Response Force (NDRF), a squad of the Indian Army, senior officials of the company and the Pimpri Chinchwad Municipal Corporation (PCMC), disaster response teams and other emergency agencies reached the site.Also read: About 16 people stranded in building collapse in Pune's Pimpri-Chinchwad, rescue efforts underwayAntony Waste Handling Cell said its immediate priority is to support the ongoing rescue and relief efforts and extend all possible assistance to the municipal corporation, local administration, emergency response agencies and other authorities.
It added that medical assistance is being provided to the injured, support is being extended to affected families, and efforts are underway to identify and account for all personnel who were present at the site.Cause of collapseBased on preliminary information, the company said the waste mound had become destabilised due to continuous and exceptionally heavy rainfall before collapsing onto the administration building. It said the incident appears, prima facie, to have been triggered by the unprecedented weather conditions, noting that the region had experienced continuous and exceptionally intense rainfall in the preceding period.The company also said the plant was under a scheduled maintenance shutdown when the incident occurred, resulting in a limited number of operating personnel being present at the site.
Based on the information currently available, it added that no immediate material impact on the company's operations has been identified.Antony Waste Handling Cell said it continues to work closely with the relevant authorities and emergency response agencies and will provide further updates as verified information becomes available.Sensex, Nifty today: Catch all the LIVE stock market action here(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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