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Sasol to spend $21bn on US plant

New York -

South African chemicals and energy company Sasol Ltd. said it could spend up to $21 billion to build a complex in Louisiana to turn natural gas into diesel, other fuels and chemicals.

The company said Monday that it will begin initial engineering work on a long-discussed complex in Westlake, Louisiana, that will use domestic natural gas, which is among the cheapest in the world, to make higher-value chemicals and fuels.

The company plans to first spend $5 billion to $7 billion on a chemical plant and later add an $11 billion to $14 billion gas-to-liquids plant that will turn natural gas into diesel.

The complex, if built, will employ 7 000 construction workers during peak construction and 1 200 permanent workers, the company said. - Sapa-AP

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