Sasol’s shares plunge 14.7% on major cost overruns in US

Sasol says the cost escalations at its Lake Charles project in the US are ‘extremely disappointing’. Picture: BLOOMBERG/WALDO SWIEGERS

The cost estimate for the group’s Lake Charles project in Louisiana has been revised to between $12.6bn and $12.9bn, which includes a contingency amount of $300m, the company said on Wednesday. When the project was first unveiled in 2011, it was expected to cost between $3.5bn and $4.5bn.

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