Energy and chemicals group Sasol expects its capital expenditure (capex) to rise to R75-billion in 2017 and its balance sheet gearing to increase to between 25% and 35%, following the upward revision to the budget of the Lake Charles Chemical Project (LCCP), in the US, to $11-billion, from an initial forecast of $8.9-billion. Sasol’s 2017 capex estimate is an increase of R2-billion on previous guidance and its 2018 forecast now stands at R60-billion, largely as a result of the increased LCCP capital estimate and the impact of the weakening rand.
Source: www.engineeringnews.co.za
Sasol’s gearing to increase as 2017 capex forecast rises to R75bn
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