Louisiana switches gears, supports deal for Sasol fuel plant

|About: Sasol Limited (SSL)|By:, SA News Editor

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.