Sasol Expects Increased Lake Charles Project Costs; Stock Remains in 3-Star Territory
No-moat Sasol’s Lake Charles Chemical Project continues to hit bumps in the road. The company announced that total costs are over budget and increased its cost estimates again from $11.3 billion to the range of $11.6 billion-$11.8 billion. The project is now 94% complete, and management still expects the project to be placed into service later this year.Sasol reported its first-half 2019 fiscal year results for six months ended Dec. 31, 2018, that were a mixed bag. The company’s liquid producti...
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