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Sasolburg - Sasol [JSE:SOL] plans to spend R40bn on growth projects in South Africa over the next two years, a senior executive said on Friday at the launch of the company’s new cobalt catalyst plant.
Sasol, the world’s top maker of motor fuel from coal, has increasingly been diversifying into chemicals, gas and clean energy projects, partially to align itself with wider moves towards a low-carbon future.
“Our total capital spend in South Africa over the past years has been R42bn and with the pipeline of projects in the region, we are looking at spending an additional R40bn over the next two years,” said Lean Strauss, Sasol senior group executive.
The company was launching its R1bn new cobalt catalyst plant at Sasol’s Sasolburg site, 100km south of Johannesburg.
The plant will initially supply the catalyst to its gas-to-liquids (GTL) projects in Qatar, Nigeria and Uzbekistan, the company said.
“As Sasol accelerates its GTL growth around the world, this South African facility will be instrumental in supplying a vital ingredient to ensure the success of those ventures,” it said.
Sasol, the world’s top maker of motor fuel from coal, has increasingly been diversifying into chemicals, gas and clean energy projects, partially to align itself with wider moves towards a low-carbon future.
“Our total capital spend in South Africa over the past years has been R42bn and with the pipeline of projects in the region, we are looking at spending an additional R40bn over the next two years,” said Lean Strauss, Sasol senior group executive.
The company was launching its R1bn new cobalt catalyst plant at Sasol’s Sasolburg site, 100km south of Johannesburg.
The plant will initially supply the catalyst to its gas-to-liquids (GTL) projects in Qatar, Nigeria and Uzbekistan, the company said.
“As Sasol accelerates its GTL growth around the world, this South African facility will be instrumental in supplying a vital ingredient to ensure the success of those ventures,” it said.
