01 December 2009 12:13 [Source: ICIS news]
LONDON (ICIS news)--Sasol is to invest rand (R) 8.4bn ($1.14bn) to double its production of hard wax in ?xml:namespace>
The investment at the Sasolburg site will be done in two phases with the first being completed in 2012 and the second in 2014, the company added in a statement.
The first phase of investment would increase the company’s hard wax production capacity by close to 40%, it said.
"This large investment shows Sasol's commitment to the wax business and enables us to grow with our customers in this market," said Sasol Wax managing director Johan du Preez.
Sasol chemical cluster group general manager Reiner Groh added: “It [the development] is in line with Sasol's strategy to leverage our advanced proprietary technology and is also aligned with our longer term plans to significantly grow the chemicals businesses of the Sasol group."
($1 = R7.4)
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