Louisiana switches gears, supports deal for Sasol fuel plant

Louisiana lawmakers reversed course yesterday and now support a $257M incentive package and contract with Sasol (SSL -0.7%) to build a ~$14B fuel plant near Lake Charles that will turn natural gas into chemicals, diesel and other fuels.

A top Louisiana official had claimed the project would be the state's biggest-ever single economic development project, while the legislature's chief economist said the state will pay more for the project than its treasury will receive in economic return.

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