South Africa - 05

South Africa: Lake Charles Project Review Knocks Sasol’s Reputation

On 6 June Sasol announced that the preliminary findings of its review of the LCCP showed that total capital expenditure could rise to $11bn – a significant increase from previous forecasts of $8.9bn. The project, which is 40% completed, has suffered various construction delays. Sasol also issued a trading update that included major impairments, prompting its share price to fall by over 10%. The announcements have led to significant criticism in South African media.

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