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MOL unit lays cornerstone of HUF 65 bln propylene plant

Manufacturing

Image by MTI/János Vajda

Mol Petrolkémiai, a unit of oil and gas company MOL, laid the cornerstone of a HUF 65bn propylene plant in Tiszaújváros (about 158 km northeast of the capital) on Wednesday, according to a report by state news wire MTI.

Minister of Foreign Affairs and Trade Péter Szijjártó said the government is supporting the investment, which will help preserve 1,200 jobs, with a HUF 5 billion grant. He noted that the plant, to be completed by the end of 2024, is part of MOL's strategy to shift some production from vehicle fuel to materials that can be used to make consumer durables.

MOL chairman Zsolt Hernádi said the company is building a "bastion of the sustainable chemicals industry" in Tiszaújváros.

He said the new propylene plant will have a 100,000-tonne capacity, supplying a "significant part" of feedstock for MOL's chemicals business. The plant will supply MOL's polyol complex under construction in Tiszaújváros, he added.

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