Hungary: $ 1.3 Billion Investment MOL and Thyssenkrupp Start Construction of New Polyol Complex
Thyssenkrupp is building a new integrated chemical complex in Hungary. The foundation stone for the polyol production facility was laid on September 27, 2019 in Tiszaújváros.
Essen/Germany — The MOL Group is investing a total of $ 1.3 billion in a new polyol plant complex in Hungary. It is expected to be commissioned in 2021 and will produce around 200,000 tons of polyols per year. Polyol is an important and highly sought-after plastic raw material that is used in numerous industries, from automotive manufacturing to construction to the clothing industry. The new Tiszaújváros complex will produce polyether polyols using efficient and environmentally friendly technologies such as the HPPO process (propylene oxide from hydrogen peroxide) developed by Thyssenkrupp and Evonik.
This investment project is to make the Hungarian group one of the most important players in the region’s chemical industry, with MOL being the only Central and Eastern European company to control the entire value chain from crude oil extraction to polyol production, said Zsolt Hernádi.