The chemical unit was also completely gutted in the blaze, fire brigade officials said.
"Two persons were charred to death in the fire at the chemical unit. The victims, who are yet to be identified, are suspected to be workers of the plant," Taloja police said.
An official from Taloja Fire Station said, "The blaze started at the chemical unit around 4.30 pm. Ten fire engines from Taloja and nearby Panvel, Kalamboli were rushed to the site and the fire was brought under control by around 6 pm."
The cause of the fire was yet to be ascertained and further investigation was on.