Thyssen Krupp (www.thyssenkrupp.com
) is building a new integrated chemical complex in Hungary.
The foundation stone for the polyol production facility was laid at the end of September 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, which is expected to be commissioned in 2021 and to produce around 200,000 tonnes of polyols a year.
Sami Pelkonen, CEO (chemical and process technologies) at Thyssen Krupp Industrial Solutions, said: “Today marks an important step for the transformation of the chemical industry in Hungary, as well as for the co-operation between MOL and Thyssen Krupp.
"With its Vision 2030, MOL is pursuing an ambitious growth agenda.
"We are committed to contributing 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 and the clothing industry.
The new Tiszaújváros complex will produce polyether polyols using efficient and environment-friendly technologies such as the HPPO process (propylene oxide from hydrogen peroxide) developed by Thyssen Krupp and Evonik.”
Zsolt Hernádi, CEO and chairman of MOL, said: “This investment project will make MOL one of the most important players in the region’s chemical industry, with it being the only company in Central and Eastern Europe to control the entire value chain from crude oil extraction to polyol production.
"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.”