News | September 27, 2019

MOL And thyssenkrupp Lay The Foundation Stone For New Polyol Complex In Hungary

  • Plant to go into operation in 2021
  • Engineering successfully completed - Construction begins on schedule
  • MOL is investing around € 1.2B in the project - the largest organic investment to date

thyssenkrupp is building a new integrated chemical complex in Hungary. The foundation for the polyol production plant was laid on September 27, 2019 in Tiszaújváros. The MOL Group, a leading international oil and gas company, is investing a total of 1.2 billion euros in the new plant complex. It is expected to go into operation in 2021 and produce around 200,000 tons of polyols per year.

"Today's laying of the foundation stone is an important step for the transformation of the chemical industry in Hungary and for the partnership between MOL and thyssenkrupp" Sami Pelkonen, CEO of Chemical & Process Technologies at thyssenkrupp Industrial Solutions. "With its Vision 2030, MOL is pursuing an ambitious growth agenda. We are proud to support this vision and to contribute with our technologies and know-how to an innovative and sustainable chemical sector. "

Polyol is an important and highly demanded raw material for plastics, which is used in many industries - from automotive to construction to the textile industry. Polyol is produced in the new plant complex in Tiszaújváros using efficient and environmentally friendly technologies, including the HPPO process (propylene oxide from hydrogen peroxide) developed by thyssenkrupp and Evonik.

"With this investment project the MOL Group becomes one of the most important regional players in the chemical industry. MOL will be the only company in Central and Eastern Europe that covers the entire value chain from crude oil production to polyol production, "said Zsolt Hernádi, CEO of MOL. "After commissioning in 2021, the plant will contribute to strengthening the chemical site of Tiszaújváros. The know-how and the newly emerging infrastructure can attract further investors to the region in the future. "

SOURCE: thyssenkrupp