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Scrapped: Oil Prices Shelve an $11 Billion Gulf Coast Project

2015-01-29 02:45:02| Chemicals - Topix.net

South African energy giant Sasol Ltd. said Wednesday it was shelving an $11 billion project on Louisiana's Gulf Coast, imperiling one of the largest foreign investments on U.S. soil because of the plunge in oil prices. Sasol has spent years planning to expand its chemical factory outside Lake Charles, La., into a sprawling facility to turn natural gas into industrial compounds and diesel fuel.

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