Fuel Giant Sasol Is Transforming into a Chemicals Powerhouse

Sasol Ltd. built its business making fuel from coal, shielding apartheid-era South Africa from sanctions. This year, the start-up of a huge new ethylene plant in Louisiana will complete the group’s conversion into a global chemicals player.

The $11 billion Lake Charles project will catapult Sasol’s chemicals revenue to more than 70 percent of the company’s total once fully up and running, and the share is likely to get even bigger over time, co-Chief Executive Officers Bongani Nqwababa and Steve Cornell said in an interview this week at Bloomberg’s Johannesburg offices.

While the group is still looking to ...