Sasol's China venture delayed

Johannesburg - Synthetic fuels producer Sasol [JSE:SOL] is still awaiting a decision on an application to develop a 94 000 barrel per day coal to liquids facility in China.

Sasol and the Shenhua Ningxia Coal Industry Group jointly submitted a project application report to develop the facility in the Ningxia Hui Autonomous Region of China to the National Development and Reform Commission (NDRC) in December 2009.

However, it said on Thursday that the two partners were still awaiting a decision from the commission.

"The project has reached a key decision point and the partners have decided to delay initiation of any further project activities until the outcome of the NDRC decision is known," said a Sasol spokesperson.