Sasol’s US$ 11-Billion Project Resumes after Harvey Stall
Sasol Ltd is an integrated energy and chemical company based in South Africa. Workers have now started returning to the company’s US$11 billion Lake Charles Chemicals Project in Louisiana after the site was shut for more than a week because of Hurricane Harvey. Construction workers started joining work although at lower-than-usual turnout levels following the closure on August 26, 2017.
Russel Johnson, the spokesperson of Sasol’s North American operations, said: “The site could not be accessed for safe work for seven working days.”
Last year, Sasol raised the cost of Lake Charles by 25% to US$11 billion, quoting problems including weather delays at a site with poorer-than-anticipated subsurface conditions. The company also decreased returns from the plant, which will convert ethane into plastics and other products. Harvey, which struck areas near Christi, Texas, shattered the regions petrochemical operations.
There was a 50% increase in rainy days from the 10-year average, according to the National Weather Service. Sasol fell 1% to 386.49 rands in Johannesburg trading on Wednesday taking its decline over the past month to 5.7%.
The company quoted it is working with a venture of Fluor Corp. and TechnipFMC Plc, contracted by Sasol, to access further workforce and material supply to the Lake Charles project as a result of Hurricane Harvey.
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