Pick of the Month: Sasol
Even though the Lake Charles Chemicals Project has been a nightmare, the nightmare is almost over
Tragedy has befallen Sasol … or has it? During the past month Sasol published an update on its Lake Charles Chemicals Project (LCCP) which was absolutely rejected by the market.
With a few recent changes to management of this project, it became apparent that the projected costs of between $11.6bn and $11.8bn had been inaccurate due to unforeseen issues. The total project cost estimate was increased to between $12.6bn and $12.9bn, as well as the project completion date being pushed back all the way to February 2020.