Energy and chemical company’s recent updates show the project is battling to cover its cost of capital, analyst saysSasol, which shocked the market in May by announcing more cost overruns at its Lake Charles chemicals project in the US, said on Monday the second of seven production units at that plant has come online.
Sasol said on Monday the ethylene oxide facility at the plant — the second of seven production units — “achieved beneficial operation” last Friday. It said the net debt to ebitda covenant applicable to its $3,9bn revolving credit facility has been amended from 2.5-times to 3-times.
Source: News Formal (newsformal.com)
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