Petrochemical group Sasol says the R8.5 billion sale of its air separation units (ASUs) in Secunda has been finalised.
The oxygen-producing units have been sold to French multinational supplier of industrial gasses Air Liquide.
In a statement on Thursday morning, the group said the sale forms part of its accelerated divestment programme as it seeks to repay debt.
As part of the sale agreement, Air Liquide will supply gasses to Sasol’s operations under a long-term gas supply agreement.
The 15-year initial agreement will secure reliable oxygen supply and cost savings for the Secunda site, says Sasol,
“‘Air Liquide will take full ownership and overall responsibility for managing the ASUs, including all future capital and operating requirements, to maintain the agreed quantity and quality of gases supplied to Sasol.”
The sale is subject to approval by competition authorities.