The threat of a massive chemical explosion has been “eliminated,” fire officials said Monday on a volatile tank loaded with 7,000 gallons of methyl methacrylate.

Evacuation orders were issued to 40,000 Orange County residents. A fire official said a major spill or an explosion were the only expected outcomes.

Disneyland has said it is monitoring a dangerous chemical tank that is threatening to explode in nearby Garden Grove. The entertainment giant released a statement as fears mounted across Orange County over a pressurized container at a GKN Aerospace plant that could rupture or explode,

If the failing chemical tank in Orange County does explode, the aerospace plant where it sits and dozens of homes surrounding it could suffer severe damage, according to a map released by authorities Saturday.

Firefighters continue to cool a chemical storage tank with water to prevent it from breaching or exploding. Some 40,000 residents near the Orange County plant have been evacuated to shelters.