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(NANJING, China, June 8, 2017 PRNewswire=연합뉴스) Sasol Limited (JSE: SOL; NYSE: SSL), a leading integrated chemicals and energy company, formally began construction of its new alkoxylation plant in Nanjing, Jiangsu Province. Ushered in by a ground-breaking ceremony on June 8th at the Nanjing Chemical Industrial Park (NCIP), the new plant is expected to be fully operational in early 2019.
The ceremony was presided by Fleetwood Grobler, Executive Vice President of Chemicals Business, Sasol, and attended by Miao Ruilin, the Mayor of Nanjing; Dolana Msimang, the South African Ambassador to China; representatives from South African diplomatic missions in China and NCIP officials.
The new production unit will modernise and expand Sasol's current alkoxylation capacity, research and development facility and technical support capability in Nanjing. Through this strategic investment, Sasol will strengthen its position in China and better meet the growing demand for specialty chemicals in this important growth market.
This project entails the construction of an alkoxylation plant with a capacity of approximately 150 kilo tons per annum (ktpa), with the option of using either branched or linear alcohols to meet differentiated customer requirements in applications, such as detergent, personal care, textiles and leather, metal working and lubrication, paper inks and coatings and the oil and gas recovery markets.
"With China's economy forecast to represent 40% of the world chemical demand by 2020 and its on-going shift towards high value and differentiated segments, China is an important market for Sasol," said Fleetwood Grobler, Executive Vice President of Chemicals Business, Sasol. "The new production unit will more than double Sasol's alkoxylation production capacity and Sasol's state-of-the-art technology offers our business partners significant benefits in terms of safety, reliability and flexibility."
The new site, to be located in NCIP, occupies about 35 acres representing a significant expansion of the existing footprint. Through this project, Sasol will be able to offer a range of diversified products to optimally serve this growing market by combining a unique portfolio of building blocks and extensive global experience. Sasol will continue to comply with the highest standards of environment, health and safety and is committed to a sustainable development in China.
Sasol is an international integrated chemicals and energy company that leverages technologies and the expertise of our 30,300 people working in 33 countries. We develop and commercialise technologies, and build and operate world-scale facilities to produce a range of high-value product streams, including liquid fuels, chemicals and low-carbon electricity.
Forward-looking statements: Sasol may, in this document, make certain statements that are not historical facts and relate to analyses and other information which are based on forecasts of future results and estimates of amounts not yet determinable. These statements may also relate to our future prospects, developments and business strategies. Examples of such forward-looking statements include, but are not limited to, statements regarding exchange rate fluctuations, volume growth, increases in market share, total shareholder return and cost reductions. Words such as "believe", "anticipate", "expect", "intend", "seek", "will", "plan", "could", "may", "endeavour" and "project" and similar expressions are intended to identify such forward-looking statements, but are not the exclusive means of identifying such statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and there are risks that the predictions, forecasts, projections and other forward-looking statements will not be achieved. If one or more of these risks materialise, or should underlying assumptions prove incorrect, our actual results may differ materially from those anticipated. You should understand that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors are discussed more fully in our most recent annual report under the Securities Exchange Act of 1934 on Form 20-F filed on 27 September 2016 and in other filings with the United States Securities and Exchange Commission. The list of factors discussed therein is not exhaustive; when relying on forward-looking statements to make investment decisions, you should carefully consider both these factors and other uncertainties and events. Forward-looking statements apply only as of the date on which they are made, and we do not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise.
Source: Sasol Limited
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