Property worth around Rs 50 million was reduced to ashes when a fire broke out at the Everest Plywood Industry in Nepalgunj-12 on Friday. 

Machines, raw materials and wood items readied for sale were gutted in the fire, according to proprietor Prakash Rana.

Spokesperson at District Police Office, Pratit Singh Rathaur, said that the fire might have begun with a short circuit. 

The blaze was taken under control by mobilizing fire engines attended by security forces and locals after 24 hours. 

Further details on the loss are being collected, police added.