May 22, 2019 / 5:37 AM / 6 months ago

Sasol increases cost estimate for U.S. chemicals plant by around $1 bln

JOHANNESBURG, May 22 (Reuters) - South Africa’s Sasol has increased its cost projection by around $1 billion for a chemical plant in the United States following a review by the project’s new management.

The cost estimate for the Lake Charles plant has been revised to a range of $12.6 to $12.9 billion, which includes a contingency of $300 million, Sasol said in a stock exchange announcement.

Sasol had previously said the project would cost between $11.6 billion and $11.8 billion. (Reporting by Emma Rumney; Editing by Subhranshu Sahu)

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