By Paul Burkhardt
INTERNATIONAL - Sasol Ltd.’s Lake Charles Chemicals Project in Louisiana remains shut after Hurricane Laura hit the U.S. Gulf Coast, the company said.
The site is “without power and all manufacturing facilities are shut down,” the Johannesburg-based chemicals and fuels manufacturer said Friday. Ride-out crews who had sheltered in hurricane-approved buildings at Lake Charles are safe and accounted for.
The company’s shares were barely changed in early Johannesburg trade.
“There was no flooding on site as a result of the storm surge,” Sasol said. “When it is safe to do so, operations recovery crews will complete an initial assessment of the facility for any damage or remaining hazards.”
Sasol is completing a major expansion of Lake Charles. The project has encountered cost overruns, mismanagement and delays including heavy rainfall from Tropical Storm Harvey in 2017.
The company’s other facilities in Texas weren’t impacted by the storm, it said.
BLOOMBERG