LAKE CHARLES, LA (WVUE) - The steep plunge in crude oil prices leads to growing concerns in Southwest Louisiana about the fate of a proposed $14 billion plant.
The global energy company Sasol announced a delay Wednesday for its proposed gas-to-liquid plant near Lake Charles. Sasol executives say they want to conserve cash in the wake of sharply lower oil prices.The facility was scheduled to be built next to another Sasol plant.
According to the company, construction on the first plant will continue. Company executives say at this point, they're not abandoning the gas-to-liquid plant. They say the proposal is currently being re-evaluated.