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Sasol to spend $21bn on US plant

Dec 03 2012 20:48 Sapa

Company Data

Sasol Limited [JSE:SOL]

Last traded 610.00
Change -2.59
% Change 0.00
Cumulative volume 399025
Market cap 396.95bn

Last Updated: 30/09/2014 at 11:22. Prices are delayed by 15 minutes. Source: McGregor BFA

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New York - South African chemicals and energy company Sasol [JSE:SOL] said it could spend up to $21bn to build a complex in Louisiana to turn natural gas into diesel, other fuels and chemicals.

The company said Monday that it will begin initial engineering work on a long-discussed complex in Westlake, Louisiana, that will use domestic natural gas, which is among the cheapest in the world, to make higher-value chemicals and fuels.

The company plans to first spend $5bn to $7bn on a chemical plant and later add an $11bn to $14bn gas-to-liquids plant that will turn natural gas into diesel.

The complex, if built, will employ 7 000 construction workers during peak construction and 1 200 permanent workers, the company said.
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