Sasol is seeking project finance and loans, and may also sell bonds in the US, to fund a petrochemical plant in Louisiana. Sasol needs to raise US$5-7 bln to build a 1.5 mln tpa cracker near Lake Charles, Louisiana, which will convert ethane natural gas to ethylene, with startup planned for 2017. "We will look at some project financing as well as most likely some US bonds," as per CEO David Constable. The cracker will precede a facility that will convert gas to liquid fuel, the first of its kind in the US, which will cost US$14 bln. Sasol will make the final investment decision on the cracker next year, and the verdict for the gas-to-liquids plant, to be located in Louisiana, will follow 18 months to 24 months later.
Sasol sold US$1 bln of bonds in its first offer in the US currency in November. The response was strong and that means bond investors support our long-term strategy.
20-Sep-13 
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