Rath has replaced M Ravi who was removed Wednesday following the accident.
An explosion took place at the state-owned steel maker Steel Authority of India Limited's (SAIL) Bhilai plant in Durg district of Chhattisgarh Tuesday.
Expressing anguish at the loss of lives in the blast, Union Steel Minister who reached the site Wednesday removed the plant CEO M Ravi with immediate effect and suspended General Manager (safety department) T Pandya Raja and Deputy General Manager (energy department) Naveen Kumar.
The Centre has announced a compensation of Rs 3.3 million each to the families of workers who lost their lives in the blast.
The families of the deceased will also get a statutory compensation between Rs 3.3 million and Rs 9 million.