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Sasol -- Decision on ethane cracker in Louisiana
Sasol announces final investment decision on world-scale ethane cracker and derivatives complex in Louisiana
Today, Sasol announced the final approval of an US$8.1 billion ethane cracker and derivatives complex at its existing site in Lake Charles, Louisiana.
At the heart of the project is an ethane cracker that will produce 1.5 million tons of ethylene annually, benefiting from significant economies of scale. The complex also includes six chemical manufacturing plants. Approximately 90 percent of the cracker’s ethylene output will be converted into a diverse slate of commodity and high-margin specialty chemicals for markets in which Sasol has a strong position, underpinned by collaborative customer relationships.
Sasol has selected Fluor Technip Integrated, a joint venture of two world-class firms, as the primary engineering, procurement, and construction management contractor for this project. Sasol's project management team is also supported by WorleyParsons, who bring with them significant mega-project experience.
An additional US$800 million will be invested in infrastructure and utility improvements, as well as land acquisition, to establish the Lake Charles location as an integrated, multi-asset site that will enable growth for decades to come.
Sasol is well-advanced in raising the funds required for construction and will utilise a variety of international U.S. dollar-based sources. Site preparation is underway, and the company expects that the facility will achieve beneficial operation in 2018.
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Sasol - Inzalo Public Ltd. (RF) AGM
The annual general meeting of members of Sasol Inzalo Public Ltd. (RF) will be held at 10:00 on Saturday, 15 November 2014 at the The Wits Great Hall, 3 Jorissen Street, Braamfontein, Johannesburg, South Africa, to transact the business stated in the notice of the annual general meeting. Copies of the notice of annual general meeting together with a summary of the annual financial statements of the Company have been posted to shareholders and are also available on the Sasol website at www.sasol.com.
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