Sasol to invest R 8,4 billion in wax production in South Africa
Sasol has approved an investment of R 8,4 billion which will double the Sasol Wax production of hard wax in South Africa. The investment will be done in two phases.
Phase one will come into operation in 2012 and will increase the hard wax capacity by close to 40%. The investment for phase one includes pre-investment to optimise the remaining investment for phase two. Sasol has already completed the basic engineering and ordered some of the long lead items for project's first phase. The project will, on completion, have doubled the current hard wax production capacity. Phase two is currently expected to come into operation by 2014.
"This large investment shows Sasol's commitment to the wax business and enables us to grow with our customers in this market," says Johan du Preez, managing director of Sasol Wax.
Sasol group general manager for the Chemical Cluster Reiner Groh adds: "This is a significant investment for the Sasolburg site and demonstrates our commitment to our South African asset base. It is in line with Sasol's strategy to leverage our advanced proprietary technology and is also aligned with our longer term plans to significantly grow the chemicals businesses of the Sasol group."
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