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MOL wins HUF 483 mln grant for polyol development

Hungarian oil and gas company MOL has won a HUF 483 million grant in a tender called by the National Research, Development and Innovation Office to develop polyol products, according to state news agency MTI.

MOL said the funding will be used to develop at least ten products that give it a competitive advantage over its peers.

MOL will make the products at a EUR 1.2 billion polyol plant it is building in Tiszaújváros (175 km northeast of Budapest) as part of its strategy to focus more on petrochemicals.

Polyols are an essential component of polyurethane which go into furniture, building materials and car parts.