News Karnataka
Monday, December 05 2022
Business

Tianjin port blast destroys 5000 Tata Vehicles

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Beijing: The Tianjin Port Blast may have hit Tata Motors badly. The company said today that it is assessing the impact of the Tianjin Port blast.The port is one of the major locations in China through which Tata Motors-owned Jaguar Land Rover imports vehicles. About 5,800 vehicles that had been shipped to China were stored at various locations in Tianjin at the time of explosion, the company said in a statement.

As access to facilities near the blast site was still restricted, Tata Motors said it was not able to quantify the number of vehicles that was affected.

The Tata Motors stock traded on a new 52-week low of Rs 328 on the BSE. At 11.10 am, the stock was down 3.79 per cent or Rs 12.95 at Rs 330.75 on the BSE.

Meanwhile, four new fires broke out close to the site where two massive explosions in a warehouse storing dangerous chemicals killed 114 people last week, the official Xinhua news agency said on Friday.

Xinhua said one of the “ignition points” came from within an automobile distribution area near the blast site and the other three were within the central blast area.

China is conducting an investigation on what caused the two huge explosions at the warehouse storing volatile chemicals at a busy port in northeast China.

The warehouse, designed to house dangerous and toxic chemicals, was storing mainly ammonium nitrate, potassium nitrate and calcium carbide at the time of the blasts, according to police.

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