Media reports on Monday suggested that Sasol could invest as much as $6-billion (R42.2-billion) in India to produce synthetic fuel from coal.

According to the reports, Indian finance minister Palaniappan Chidambaram said Sasol may initially invest $1-billion, increasing to $6-billion, on alternative fuel.

Sasol's group corporate affairs manager, Andre Botha, was quoted in Business Report on Tuesday as saying: "We can confirm that while we are undertaking a preliminary evaluation and are engaging in discussions with various interested parties regarding coal-to-liquid opportunities in that country, these discussions are at a very early stage."

The international community is increasingly looking at Sasol's coal-to-liquid technology as oil prices touch record highs.

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