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Friday 6 September 2013

News;South African firm invest billions of dollars in the U S of A

Sasol,a South African energy firm has announced its intention to invest over $13 billion in the United States. Touted as one of the biggest investment of a non US firm in the state of Louisiana,the company hopes to build the first commercial US based plant that turns natural gas into liquid fuel,lubricant,and other chemical. The company's investment also includes a separate $6 billion ethane cracker and derivatives plant. Upon completion,the facility would produce an estimated 96,000 barrels per day and create over 1,200 permanent jobs in the following years.This will make the U.S. more energy independent.Critcs observe tha the project should have been sited in Africa.What do you think?  

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