Safety Measures in Place as Fire Reaches Veritas India’s UAE Subsidiary

Image Source: Board Stewardship

A major fire broke out at an adjacent terminal near Veritas India’s UAE subsidiary, leading to significant damage to the company’s office premises. The incident occurred at Verasco FZE’s tank terminal, a key facility for petrochemical storage and distribution in Hamriyah Free Zone, Sharjah.

Key Highlights:

Fire Origin: The blaze started at a nearby terminal before spreading to Veritas India’s subsidiary office.
Facility Impact: Verasco FZE, a 100% subsidiary of Veritas India, suffered damage to its administrative building and operational workstations.
Safety Measures: Emergency response teams swiftly intervened, ensuring containment and minimizing further risks.
Business Disruption: The incident may temporarily affect operations, but Veritas India is expected to implement recovery measures.
Market Implications: Investors and stakeholders are closely monitoring the situation for potential financial and operational impacts.