MOL has confirmed that the foundation stone for the Tiszaújváros polyol plant has been laid.
MOL will invest €1.2 billion to construct the plant, which will be able to produce around 200 000 tpy of polyols. The plant is expected to be commissioned in 2021.
Zsolt Hernádi, Chairman and C-CEO of MOL Group, Dr. Sami Pelkonen, CEO Chemical & Process Technologies at thyssenkrupp Industrial Solutions, Ferenc Koncz, Member of the Hungarian Parliament and Mihály Varga, Finance Minister, took part at the foundation stone laying ceremony.
MOL Petrochemicals in Tiszaújváros will be the only company in Hungary and the entire Central and Eastern European region with an integrated value chain from crude oil extraction to the production of polyether polyols (widely used raw materials in plastics). The polyol project will provide long-term employment opportunity for 200 people.
According to MOL’s estimates, the plant will contribute approximately €150 million/yr to MOL Group’s financial results (EBITDA). 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 Tiszaújváros complex will produce polyol using efficient and environmentally friendly technologies such as the HPPO process (propylene oxide from hydrogen peroxide) developed by thyssenkrupp and Evonik.
One of the cornerstones of MOL Group 2030 - Enter Tomorrow strategy is to expand the company’s petrochemicals value chain and produce more valuable products. The polyol plant and the previously opened synthetic rubber plant are the milestones of this strategy.
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/30092019/foundation-stone-laid-at-polyol-plant/