MOL opens €1.3 billion polyol complex in Hungary

Hungarian energy and petrochemicals group MOL has opened a €1.3 billion polyol complex in Tiszaújváros, Hungary, with a production capacity of approximately 200,000 tonnes/year of polyols, a widely used raw material for plastics.

MOL said the start-up is an important milestone as it is the only company in Hungary and Central and Eastern Europe that covers the entire value chain from crude oil processing to polyol production.

The new polyol complex is MOL’s largest organic investment, with MOL, Thyssenkrupp and Evonik IP signing respective licensing agreements in the summer of 2017. Groundbreaking took place in September 2019.

In addition to the four main plants, a polyol pilot plant, a quality assurance laboratory and an R&D center in Százhalombatta were also established.

Zsolt Hernádi, chairman and CEO of MOL Group, Zsolt Hernádi said:"This investment puts Tiszaújváros back on the map of the European chemical industry, making it one of the most important industrial centers in the region. It will enhance our country's industrial competitiveness and promote economic growth."

“With this new MOL polyol compound, we are combining proven technology with innovative solutions to set new standards in efficiency, environmental protection and automation,” said Nadja Håkansson, CEO of thyssenkrupp Uhde.

Polyols are one of the most popular raw materials for plastics and are used in industries ranging from automotive manufacturing to clothing and insulation. Polyurethane is made from polyols and is the base material for many durable consumer goods.