Sasol Declares Completion of Lake Charles Chemical Project Worth USD 12.8 Billion
- 17-Nov-2020 11:00 AM
- Journalist: Francis Stokes
Surpassing the financial distress due to a series of delays, mismanagements, and cost overruns, Sasol Limited on Monday, finally announced the completion of its highly advanced Lake Charles Chemical Project (LCCP).
The project based in Louisiana, U.S., accomplished its final step when its seventh LDPE plant, that was impaired due to a fire hazard in January, outlined beneficial operation on last weekend.
The LDPE plant is equipped with Exxon Mobil technology, and has an installed capacity of 420 KPTA. Although the exact amount has not been revealed, the overall project is expected to have cost near about USD 12.8 Billion. Expressing reliance on the project, Chief Executive of Sasol called it a worthy investment despite the overall capital investment incurred. The company even stated that the project will largely assist in evolving its chemical business across U.S.
As per ChemAnalyst,” the LCCP project of Sasol is anticipated to brace the international market with abundant supply of Polyethylene’s and other linked chemical commodities. Since the demand for petrochemical commodities is perceived to witness an appreciable growth in coming years, the project will provide the company with wholesome revenue at par its capital cost.”