Baogang Steel releases probe report on subsidiary explosion in Jan
2026-08-03 14:17:35 [Print]
On August 2, Baogang Steel Co., Ltd. announced the release of the official investigation report into the explosion that occurred on January 18 at its holding subsidiary's plate plant steelmaking operation. The blast involved a 650 cubic meter saturated water and steam spherical tank, killing 10 people and injuring 84 others. Direct economic losses are estimated at RMB67.23 million (USD9.95 million).
The investigation team classified the incident as a major production safety liability accident. According to the company, the affected production lines have now fully resumed operations. Baogang Steel has filed insurance claims with its insurers under property all risks, work safety liability, and public liability policies, all of which cover the asset damage and casualties related to the accident. The claim settlement process is currently proceeding actively.
The investigation team classified the incident as a major production safety liability accident. According to the company, the affected production lines have now fully resumed operations. Baogang Steel has filed insurance claims with its insurers under property all risks, work safety liability, and public liability policies, all of which cover the asset damage and casualties related to the accident. The claim settlement process is currently proceeding actively.
