Mumbai Inc goes on the blink

While insurance companies will be hit hard due to the floods, it’s clear that the full extent of the damage will only be clear when it stops raining. For now, all that is available are statements from some firms.

RIL said its Patalganga plan was shut down in a safe manner due to the flood situation. ‘‘The company is taking all necessary steps to restart the plants in a safe manner at the earliest,’’ the company said in a notice to the BSE. Oil refiner BPCL also said it has cut production at its Mumbai refinery.

Gurgaon-based Asahi India Glass also talked about disruption of operations in its float glass plant at Taloja, near Mumbai. Company officials said there was an estimated Rs 25 crore loss. ‘‘…Major flooding in our factory at Taloja. Water-flooded key electrical and oil utilities causing energy starvation,’’ the company said.

‘‘While the actual cost of repair is unknown, what is certain is that it will take three-four weeks to bring the furnace back into production. This has a substantial cost in loss of sales, consequential profits…The company has decided to proceed with a hot repair,’’ it added.

On the other hand, hotel companies recorded a mini-boom of sorts as stranded corporate executives checked into hotels in South Mumbai for the night. Hotel and five-star clubs with rooms said all their rooms were booked by guests and club members as they could not reach home due to absence of lifeline railway service.