MOL set to finish EUR 1.3 bln polyol plant in H2 2022

Manufacturing

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Hungarian oil and gas company MOL on Friday said it expects to finish construction of a EUR 1.3 billion polyol plant it is building in Tiszaújváros in the second half of 2022, according to a report by state news wire MTI.

The investment, launched in autumn 2019, has reached 89% completion, MOL said.

"The polyol project is a milestone in the history of the MOL group," Zsombor Marton, head of MOL's petrochemicals division said.

"With the construction of the high-technology complex that is unique in the region, MOL will further strengthen its position in the chemical industry, creating jobs and accelerate the company's transformation," he said.

With the investment, MOL will add polyols, essential components used by several industries including the textile, furniture, automotive, and construction sector, to its product palette.

When the plant starts operating, MOL will become the first integrated polyol producer in the region. According to its long-term strategy, the group plans to invest USD 4.5 bln in petrochemicals by 2030.

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