The fund will provide assistance for the employees and families most affected by the incident, said the company.
The action plan will be announced “within the best possible delays, while [the company is] also aiming to put forward a plan that is as comprehensive as possible in the circumstances with respect to its future operations”.
The explosion at the company’s facility occurred on Nov. 9 in the early afternoon resulted in the death of three workers.
The cause of the explosion is still under investigation, the company said. Neptune officials are aiding local police and fire officials in the accident probe, as well as aiding in the cleanup. A significant quantity of the highly flammable solvent acetone were at the site and have been implicated in the explosion.