Company behind $1.3 billion plant makes stunning decision to halt construction: 'The wrong project, at the wrong place and time'

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Company behind $1.3 billion plant makes stunning decision to halt construction: 'The wrong project, at the wrong place and time'

Vehicle manufacturer Mitsubishi has decided to cancel plans to build a $1.3 billion chemical plant in Ascension Parish, Louisiana, the Louisiana Illuminator reported. Originally, the plant was intended to produce methyl methacrylate or MMA. This chemical is used to produce a wide range of plastic and rubber products, as well as paints and glazes. According to Oil and Gas Watch, it would have produced 385,000 tons of MMA per year, and the Louisia…