Sasol’s Lake Charles nightmare deepens as further delays threaten
More than R13bn wiped off company’s market value on Thursday as share price plunges
The bad news keeps coming for Sasol shareholders. The synthetic fuels and chemicals company had more than R13bn wiped off its market value on Thursday as its share price plummeted more than 6.3%.
It marks the worst one-day fall since 22 May when Sasol said its troubled Lake Charles Chemicals Project (LCCP) had incurred further cost overruns of $1bn, pushing the project to 45% over its original budget.