OKLAHOMA CITY — An Oklahoma City-based company says it will receive a $113 million insurance payment after a May 2012 explosion damaged one of its chemical plants in south Arkansas.
No one was injured in the blast at the El Dorado Chemical Company plant in El Dorado, Ark.
Plant owner LSB Industries Inc. told The Oklahoman Friday that it has received $60 million and will receive the remaining $53 million within 30 days. The company plans to spend about $120 million to build a replacement plant in El Dorado that will make a weaker form of nitric acid than was previously produced at the plant.
Plant officials have said the blast occurred when the plant was restarted after maintenance, and a mixture of chemicals and oxygen exploded.