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September 22, 2015

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Tianjin details payout for owners of ‘blast’ homes

Source: Xinhua | September 22, 2015, Tuesday | Print Edition

The Tianjin government yesterday announced how much it will pay in compensation to the owners of apartments that were damaged in last month’s fatal explosions in the port city.

The buyback price for properties in seven compounds — where more than 17,000 homes were damaged — has been set in the range of 10,582 yuan (US$1,660) to 14,271 yuan per square meter, the Binhai New Area government said.

Fangda Real Estate Appraisal Co, which was given the job of assessing the value of the apartments, said the figures are higher than the market average before the explosions.

Owners have the option to sell their homes or have them refurbished free of charge, the government said.

Those who choose to sell will be given an extra 30 percent of their home’s value, it said.

A total of 165 people, including 99 firefighters and 11 police officers, were killed when two massive blasts tore through a warehouse containing illegal amounts of toxic chemicals — including 700 tons of sodium cyanide — in Tianjin Port on August 12.

Authorities in the Binhai New Area on Sunday launched a new round of safety inspections at dozens of companies that handle potentially hazardous chemicals.

The checks will continue throughout the year and will cover firms that produce, store, transport or use such goods, a spokesman with the area government said yesterday.

The inspections will be conducted by a team of 100 officials from Tianjin Port and the city’s public security, planning and land resources, and work safety bureaus, the person said.

Any company that is found to be in breach of relevant safety rules will be ordered to close pending upgrades or improvements, the official said.

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