OREANDA-NEWS.  January 31, 2013. Eurasia Insurance Company calculates the damages at the plant and makes claim payments of KZT35m for property damage and forced business interruption in the South Korean petrochemical company Honam Petrochemical Corporation.

On September 22, 2012 in the production process the insured detected abnormal symptoms, which led to an increase of water level in the reactor of the plant. According to the reports, Micro cracks were found on the welded joint of the coolant tube and the tube sheet in the reactor. These cracks lead to coolant leak, damage the catalyst in the reactor.

Honam Petrochemical Corporation is the largest Asian producer of petrochemical products and polymers, such as polyethylene, polypropylene, block copolymers, propylene photopolymers and etc.