Arkema expects its Crosby, Texas, plant to explode or catch fire in the next few days due to flooding from Hurricane Harvey.
Richard Rowe, CEO of Arkema’s North American unit, said there is no way to prevent it from happening.
The plant produces organic chemicals that are used in the production of plastic resins, polystyrene, paints and other products.
Rowe told journalists that the chemicals on the site will catch fire and explode if they are not properly cooled, and that Arkema expects that to happen within the next six days as temperatures rise.
The company is monitoring the temperature of the chemicals remotely.
He said the company has no way to prevent the fire or explosion, as the plant is flooded by about six feet of water.
He also could not predict how much damage would occur but said it could be an "intense fire”.
He added that he does not believe this would cause any "long-term harm or impact.”
Chemicals on site are stored at low temperatures and can catch fire or explode at higher temperatures.
The plant’s refrigeration system ceased working as the plant has been without electricity from Sunday, and consequently the backup generators have been flooded.
Despite workers moving the chemicals into diesel-powered fridges, Arkema said these have been compromised due to the high levels of water in the plant.
The company evacuated remaining workers on Tuesday, and Harris County ordered the evacuation of residents in a 1.5-mile radius of the plant.
Other chemical plants have also ceased production in Texas because of the hurricane.
Source: www.cnbc.com
