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Sasol Limited - Sasol Announces Final Investment Decision On World-scale Ethane Cracker And Derivatives Complex In Louisiana

Release Date: 27/10/2014 15:03:00      Code(s): SOL SOLBE1     
Sasol Limited
(Incorporated in the Republic of South Africa)
(Registration number 1979/003231/06)
Sasol Ordinary Share codes:     JSE: SOL       NYSE: SSL
Sasol Ordinary ISIN codes:      ZAE000006896 US8038663006
Sasol BEE Ordinary Share code: JSE: SOLBE1
Sasol BEE Ordinary ISIN code:   ZAE000151817
(?Sasol? or ?the Company?)

Sasol announces final investment decision on world-scale
ethane cracker and derivatives complex in Louisiana

Today, Sasol announced the final approval of an US$8.1
billion ethane cracker and derivatives complex at its
existing site in Lake Charles, Louisiana.

?Sasol?s decision to move forward with this project is a
defining moment in our company?s history, and an important
milestone in the execution of our growth strategy,? said
David Constable, President and Chief Executive Officer, Sasol
Limited. ?Once commissioned, this world-scale petrochemicals
complex will roughly triple our chemical production capacity
in the United States, enabling Sasol to further strengthen
its position in a growing global chemicals market. The U.S.
Gulf Coast?s robust infrastructure for transporting and
storing abundant, low-cost ethane was a key driver in our
decision to invest in America.?

At the heart of the project is an ethane cracker that will
produce 1.5 million tons of ethylene annually, benefitting
from significant economies of scale. The complex also
includes six chemical manufacturing plants. Approximately 90
percent of the cracker?s ethylene output will be converted
into a diverse slate of commodity and high-margin specialty
chemicals for markets in which Sasol has a strong position,
underpinned by collaborative customer relationships.

?In spite of a largely volatile macroeconomic outlook, we are
confident that we will deliver this project successfully, by
drawing on our experience of executing world-scale fuel and
chemical facilities, and enlisting the best employees and
industry partners,? said Constable. ?The Sasol team and our
contractors have strong track records in project management,
engineering, fabrication and construction of similar large-
scale petrochemical complexes, with deep expertise along the
U.S. Gulf Coast.?

Sasol has selected Fluor Technip Integrated, a joint venture
of two world-class firms, as the primary engineering,
procurement, and construction management contractor for this
project. Sasol?s project management team is also supported by
WorleyParsons, who bring with them significant mega-project
experience.

An additional US$800 million will be invested in
infrastructure and utility improvements, as well as land
acquisition, to establish the Lake Charles location as an
integrated, multi-asset site that will enable growth for
decades to come.

Sasol is well-advanced in raising the funds required for
construction and will utilise a variety of international U.S.
dollar-based sources. Site preparation is underway, and the
company expects that the facility will achieve beneficial
operation in 2018.

?The economic benefits of this project will extend to all of
our shareholders, 67 percent of whom are located in South
Africa, and will also enable us to pursue further growth
opportunities in Southern Africa,? said Constable. ?In
addition, this project will deliver significant benefits to
the State of Louisiana and the United States. More
specifically, it will enhance local investment and job
creation in the surrounding communities, while strengthening
downstream manufacturing and increasing exports.?


27 October 2014
Johannesburg

Sponsor: Deutsche Securities (SA) Proprietary Limited



Forward-looking statements: Sasol may, in this document, make
certain statements that are not historical facts and relate
to analyses and other information which are based on
forecasts of future results and estimates of amounts not yet
determinable. These statements may also relate to our future
prospects, developments and business strategies. Examples of
such forward-looking statements include, but are not limited
to, statements regarding exchange rate fluctuations, volume
growth, increases in market share, total shareholder return
and cost reductions. Words such as ?believe?, ?anticipate?,
?expect?, ?intend?, ?seek?, ?will?, ?plan?, ?could?, ?may?,
?endeavour? and ?project? and similar expressions are
intended to identify such forward-looking statements, but are
not the exclusive means of identifying such statements. By
their very nature, forward-looking statements involve
inherent risks and uncertainties, both general and specific,
and there are risks that the predictions, forecasts,
projections and other forward-looking statements will not be
achieved. If one or more of these risks materialise, or
should underlying assumptions prove incorrect, our actual
results may differ materially from those anticipated. You
should understand that a number of important factors could
cause actual results to differ materially from the plans,
objectives, expectations, estimates and intentions expressed
in such forward-looking statements. These factors are
discussed more fully in our most recent annual report under
the Securities Exchange Act of 1934 on Form 20-F filed on 29
September 2014 and in other filings with the United States
Securities and Exchange Commission. The list of factors
discussed therein is not exhaustive; when relying on forward-
looking statements to make investment decisions, you should
carefully consider both these factors and other uncertainties
and events. Forward-looking statements apply only as of the
date on which they are made, and we do not undertake any
obligation to update or revise any of them, whether as a
result of new information, future events or otherwise.

Date: 27/10/2014 03:03:00 Supplied by www.sharenet.co.za                     
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