The company, a $1. 3 billion petrochemical plant planned for Ascension Parish, opted not to go ahead with the project, causing a drop in demand for the products it would make.
The resolution of the Japanese conglomerate Mitsubishi comes after an independent report last summer concluded that the installation was not economically viable and that it would cause an unnecessary release of greenhouse gases.
The new methyl methacrylate (MMA) monomer plant in Geismar would have made materials used in products ranging from automobile headlights to aquariums. Plans called for 125 employees, according to Mitsubishi. When the project was announced in December 2020, Louisiana Economic Development predicted it would create another 669 indirect jobs.
In A for investors on Monday, Mitsubishi said it can fulfill MMA products from its plant in Tennessee and elsewhere.
The Institute of Energy Economics and Financial Analysis, an Ohio-based nonprofit that conducts industry analysis, described the Mitsubishi Geismar facility as “the wrong project, at the wrong place and time, with the wrong financial scenario” in its report released in July. It cited Environmental Protection Agency data, saying the plant would have been among the top 50 greenhouse gas polluters in Louisiana,
IEEFA’s report says that Geismar’s site would have released 780,000 tons of carbon dioxide year after year, despite having technologies that would produce less emissions.
The task also drew complaints from environmentalists who said it would increase existing fitness for communities along the “Cancer Alley” petrochemical services room that stretches along the Mississippi River.
In February, the Louisiana Department of Environmental Quality report said the Mitsubishi plant was not expected to have “a significant adverse effect on soil, vegetation, visibility, or air quality in the facility area. “
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by Greg LaRose, Louisiana Illuminator January 8, 2025
The company, which plans to build a petrochemical plant of 1. 3 billion dollars in the parish of Ascension, decided not to move forward with the project, which caused a drop in demand for the products it would manufacture.
The resolution through Japanese conglomerate Mitsubishi comes after an independent report last summer convinced us that the facility was not economically viable and would result in unnecessary greenhouse fuel emissions.
The new methyl methacrylate (MMA) monomer factory in Geismar would have made fabrics used in products ranging from car headlights to aquariums. The plans called for 125 employees, according to Mitsubishi. When the allocation was announced in December 2020, Louisiana’s economic progression predicted it would create another 669 indirect jobs.
In a statement to investors Monday, Mitsubishi said it will be able to meet demand for MMA products from its plant in Tennessee and other locations.
The Institute of Energy Economics and Financial Analysis, an Ohio-based nonprofit that conducts industry analysis, described the Mitsubishi Geismar facility as “the wrong project, at the wrong place and time, with the wrong financial scenario” in its report released in July. It cited Environmental Protection Agency data, saying the plant would have been among the top 50 greenhouse gas polluters in Louisiana,
The IEEFA report said the Geismar site would have released 780,000 tons of carbon dioxide annually, despite having access to technologies that would produce fewer emissions.
The allocation has also generated a complaint of the environmentalists who have said that the existing aptitude for communities would worsen along the Petrochemical Installations Hall of the “Cancer alley” that extends along the Mississippi River.
In February, the Louisiana Department of Environmental Quality report said the Mitsubishi plant is not expected to have “a significant adverse effect on soil, vegetation, visibility, or air quality in the installation area. “
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Louisiana Illuminator is America’s Newsroom, a nonprofit news network supported through grants and a coalition of donors as a 501C(3) public charity. Louisiana Illuminator maintains editorial independence. Contact Editor-in-Chief Greg Larose for questions: info@linaluminator. com.
Greg Larose has been covering the news for more than 30 years in Louisiana. Before coming to the Louisiana illuminator, he was the main research reporter of WDSU-TV in New Orleans. In the past, he directed the government and political team for Times-Picayune | Nola. com, and was editor in Chief of New Orleans Citybusiness. Other Greg race stops come with Tiger Rag, South Baton Rouge Journal, The Covington News Banner, Louisiana Radio Network and several radio stations.
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