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The Mitsubishi Chemical Group Defers Final Investment Decision for Alpha Technology Plant in Geismar, Louisiana

TOKYO, October. 3, 2022—The Mitsubishi Chemical Group (MCG) announced today that it will defer the final investment decision (FID) by 6 to 18 months for its new 350 KT Methyl Methacrylate (MMA) plant in Geismar, Louisiana due to current market volatilities.

The project, which recently completed its front end engineering design (FEED) stage, is currently in the process of applying for the required wetland and air permits that are expected to be granted in 2023 and FID is expected in fiscal year 2023.

As MCG’s third Alpha Technology plant, its design achieves the lowest possible carbon footprint for MMA production, which is a critical part of the transition to a low carbon economy for MCG and its customers. The design also includes integrated production units for key raw materials, such as carbon monoxide and methanol, to produce 350 KT of MMA per year.

MCG remains committed to working with its suppliers and partners in Geismar in preparation for FID and sourcing all of its customers’ requirements from its global asset base.

For further information, please contact:

Public Relations and Investor Relations Office

Mitsubishi Chemical Group

TEL: [+81] (0)3-6748-7140