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The company hired 800 more workers during the expansion in addition to 450 existing employees at the complex.On Jan. 13, there was a fire at the company's Lake Charles complex inside its low-density polyethylene unit, which had not yet reached beneficial operations at the time of the incident. By Paul Burkhardt (Bloomberg) — Sasol Ltd. warned of a further delay at its giant U.S. chemicals project, pushing back the startup of the final unit by a couple of months.. Bond Investors Alarmed Over U.K. Economy Turn to BOE for Ans... Gold Sets Fresh Record Heading for Best Month in Four Years The stock slipped 1.5% on Thursday at 10:53 a.m. in Johannesburg.
The latest holdup follows a fire that …
Your notification has been saved. Sasol Flags Yet Another Delay at Lake Charles Project After Fire BNN Bloomberg 10:36 23-Jul-20 Sasol expects delay in last unit in U.S. project to come onstream Mining Weekly 10:31 23-Jul-20 Sasol says fire-damaged Lake Charles unit will … The Sasol Lake Charles Chemicals Project's ethoxylates unit achieved "beneficial" operations, which means the unit sustained production at set specifications for at least 72 hours, in January 2020. U.S. Judge Lets Ecuador $17.4 Billion Debt-Swap Deal Proceed The Lake Charles complex in Louisiana has been dogged by mismanagement and cost overruns, forcing the South African company to accelerate asset sales to reduce debt.
The only revision to the schedule is the Guerbet Unit which will now be on stream in February 2020. Sasol turns on its fourth unit at its Lake Charles chemical complex, fire under investigation
HOUSTON , June 23, 2020 /CNW/ -- Sasol today announced that the Guerbet alcohol unit at our Lake Charles Chemicals Project (LCCP) achieved beneficial operations on 19 June 2020 . Setbacks at the development, coupled with oil’s crash amid the coronavirus pandemic, have dragged Sasol’s shares down more than 50% this year. cookies to improve your experience and customise advertising. The Lake Charles complex in Louisiana has been dogged by mismanagement and cost overruns, forcing the South African company to accelerate asset sales to reduce debt. “Challenges were experienced in the completion of the restoration process, resulting in a slight delay.”The company has piled on debt to develop the Lake Charles site, whose cost has risen sharply from early estimates to almost $13 billion. The world is changing fast and to keep up you need local knowledge with global context.The world is changing fast and to keep up you need local knowledge with global context. KPLC is the source for news in Southwest Louisiana, providing local coverage, weather, and sports to Calcasieu, Allen, Beauregard, Cameron, Jeff Davis, and Vernon parishes, and the surrounding areas.
Andrew Noël, Loni Prinsloo and Paul Burkhardt, Bloomberg 22 Apr 2020 06:28
The company has had a total of Listen to the story of Cyril Ramaphosa's rise to presidential power, narrated by our very own Alec Hogg.Everything from investing like Warren Buffett to the Audiobiography of Cyril Ramaphosa.Subscribe to our Newsletter to get daily updates on local affairs, with a global context. Petrochemicals giant Sasol is assessing the impact of last week’s explosion and fire at its controversial $13 billion Lake Charles Chemical Project.
Sasol sacrifices co-CEOs to Lake Charles disaster. Sasol warned recently of a loss on the Lake Charles project in 2020.
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The original estimate in 2014 before the project started was $8.9 billion, but the cost steadily increased over the years.
Stocks Rise Amid Rally in Big Tech, Stimulus Talks: Markets... Despite the continuing ramp-up of the project, further price weakness means that the EBITDA contribution from Lake Charles for financial year 2020 has been revised to a loss of $50–100 million, the company says.
Final unit at U.S. plant to come online by the end of October by Ed Reed.
The explosion came from Sasol's low-density polyethylene unit. Sorry, no headlines or news topics were found.
The Lake Charles complex is based on a 1.54-million metric tons/year ethane cracker that … Sasol starts stake sale in R246bn Lake Charles chemical complex In bid to shore up finances. South Africa-based energy and chemical business Sasol Ltd. said Monday its ethylene oxide production plant in Lake Charles has achieved "benef…Email notifications are only sent once a day, and only if there are new matching items. Christo Wiese: From billionaire to millionaire, as…How to create an investment portfolio and generate…Angry SAs speak: Will CR really clamp down on corruption? “Challenges were experienced in the completion of the restoration process, resulting in a slight delay.”The company has piled on debt to develop the Lake Charles site, whose cost has risen sharply from early estimates to almost $13 billion. The cost of the Lake Charles complex has risen sharply from early estimates to R192 billion and this, together with falling oil prices, has hurt Sasol’s finances.