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Sasol Announces Voluntary Property Purchase Program for Residents in Designated Areas Affected by the Company’s Growth Plans

Date: 
18 July 2013
 

Westlake, Louisiana (USA) – South African-based energy and chemicals company, Sasol today announced plans to introduce a Voluntary Property Purchase Program for residents in designated areas northwest and west of its existing facility in Westlake, Louisiana. This Program will give eligible property owners and residents the option to sell their property to Sasol, and relocate to an alternative neighborhood, if they so choose.

In December 2012, Sasol announced that it would begin front-end engineering and design work for a world-scale ethane cracker and gas-to-liquids (GTL) facility to be located at its existing site in Westlake. 

“We recognize that our growth plans will result in the expansion of our facility closer towards our neighbors to the northwest and west of our existing facility. Sasol is committed to listening to community concerns and being a good neighbor and corporate citizen in Southwest Louisiana. Although our final investment decisions on whether to start construction on the two growth projects have not been made, we are taking steps now to address the concerns of our neighbors through a Voluntary Property Purchase Program as part of our ongoing efforts to address community needs,” said Mike Thomas, Sasol Vice President for U.S. Operations.

Sasol has retained an experienced, third party contractor, Community Interaction Consulting, Inc. (CIC), to administer the Program. CIC has more than 20 years of experience administering best practice property purchase programs around the country.

Sasol and CIC are currently finalizing Program guidelines and additional details. CIC will open an office in the community in early August and launch a website to provide Program specifics, timelines and contact information. CIC will host small group information sessions at the Program office for prospective participants around mid-August.  Additional information on the office opening date and scheduling of the information sessions will be provided as soon as it is available.

At an estimated cost of between $16 and $21 billion, the ethane cracker and GTL projects together represent the largest single manufacturing investment in the history of Louisiana and one of the largest foreign direct investment manufacturing projects in U.S. history. Together, the two projects are expected to create over 1,200 permanent jobs, 7,000 jobs at peak construction and thousands of indirect jobs in Louisiana and across the U.S.

“Sasol has been a member of the community for more than a decade,” said Thomas. “We’re proud to be embarking on a new phase of significant growth and investment that will foster job creation and economic development in the region, while advancing sustainable development.”

Ends.

About Sasol:

Committed to excellence in all we do, Sasol is an international integrated energy and chemicals company that leverages the talent and expertise of our more than 34 000 people working in 38 countries. We develop and commercialize technologies, and build and operate world-scale facilities, to produce a range of product streams, including liquid fuels, chemicals and electricity.

While continuing to support our home base in South Africa, Sasol is expanding internationally based on a unique value proposition, which links our diverse businesses into an integrated value chain supported by top-class functions.

Issued by:

In the United States:

Michael Hayes

Direct telephone +1 337-494-5038

Michael.Hayes@us.sasol.com

In South Africa:

Jacqui O’Sullivan, GM: Group Communication

Direct telephone +27 (11) 441 3252; Mobile +27 (0) 82 883 9697;

jacqui.osullivan@sasol.com

Alex Anderson, Group media manager

Direct telephone +27 (11) 441 3295; Mobile +27 (0) 71 600 9605;

alex.anderson@sasol.com

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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 9 October 2013 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.

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