Mitsubishi to invest in growing businesses of methyl methacrylate monomer, bio plastics

02-Jun-10

Mitsubishi Chemical Holding is keen to invest in growing businesses such as methyl methacrylate monomer or bioplastics. Mitsubishi Rayon, which will become a wholly owned subsidiary of Mitsubishi Chemical from October 1, 2010, has been in negotiations with Saudi Basic Industries Corp. (SABIC) to build an MMA plant in Saudi Arabia. Since the talks seem to be on track, the two could reach an agreement shortly for a 250,000 tpa MMA plant for start up in 2013. Mitsubishi plans to expand its vegetable-origin polycarbonate plant capacity to 20,000 tpa in 2015. Capacity at the pilot plant at Kurosaki is currently at 300 tpa