MOL and thyssenkrupp lay foundation stone for new polyol complex in Hungary

• Polyol complex designed and built by thyssenkrupp Industrial Solutions expected to be commissioned in 2021
• Engineering successfully completed, construction beginning on schedule
• With a budget of € 1.2 billion this project is MOL's largest ever organic investment

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. The MOL Group, a leading international oil and gas company, is investing a total of € 1.2 billion in the new plant complex. It is expected to be commissioned in 2021 and will produce around 200,000 tons of polyols per year.

“Today marks an important step for the transformation of the chemical industry in Hungary as well as for the cooperation between MOL and thyssenkrupp,” said Dr. Sami Pelkonen, CEO Chemical & Process Technologies at thyssenkrupp Industrial Solutions. ”With its Vision 2030, MOL is pursuing an ambitious growth agenda. We are proud and sustainably committed 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 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 will make MOL 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. “Once commissioned in 2021, the plant will further enhance the position of Tiszaújváros in the chemical industry, as the expertise and the new production infrastructure established here may attract additional investors to the area.”

About us thyssenkrupp Industrial Solutions

Industrial Solutions is a leading partner for the engineering, construction and service of industrial plants and systems. Based on more than 200 years of experience we supply tailored, turnkey plants and components for customers in the chemical, fertilizer, cement, mining and steel industries. As a system partner to the automotive sector we develop highly specialized solutions to meet the individual requirements of our customers. Some 16,000 employees around the world form a global network with a technology portfolio that guarantees maximum productivity and cost-efficiency.

About MOL Group:

MOL Group is an integrated, international oil and gas company, headquartered in Budapest, Hungary. It is active in over 40 countries with a dynamic international workforce of 25,000 people and a track record of more than 100 years in the industry. MOL’s exploration and production activities are supported by more than 75 years’ experience in the hydrocarbon field. At the moment, there are production activities in 8 countries and exploration assets in 13 countries. MOL Group operates four refineries and two petrochemical plants under integrated supply chain management in Hungary, Slovakia and Croatia, and owns a network of 2,000 service stations across 10 countries in Central & South Eastern Europe.