Sasol today announced it had secured $4 billion in financing for a new ethane cracker and derivatives complex at its existing site in Lake Charles, La. Sasol obtained final permits for the $8.9 billion complex in August and announced its final investment decision in October. The 1.5-million-tons-per-year ethane cracker is set to be operational in 2018.
The lenders include 18 international banks and other financial institutions. Sasol said it would raise the remainder of the funds needed to build the complex “in a phased manner” from a variety of potential sources.
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