Sasol Ltd, the world’s biggest producer of liquid fuels from coal, says the first units at its Lake Charles chemical project will start operating in 2018.
The Lake Charles project, in north America is 64% complete and still within its $11 billion budget, said Stephen Cornell, co-Chief Executive Officer, Sasol, in a statement on Monday. The fundamental drivers for the investment “remain sound,” he said.
Sasol said last year the cost of the project in Louisiana had escalated by almost 25%, prompting the Johannesburg-based company to make cuts elsewhere. The chemicals complex, which includes a 1.5 million-tons-a-year cracker, will convert ethane into plastics and other products.
Source: Bloomberg News