The nationwide concession to manage up to five million tonnes of municipal waste, which MOL won last summer, dovetails with its 2030+ strategy to invest in new, low-carbon, circular economy businesses.
Since then, the company said "several hundred" applicants have responded to a call for subcontractors.
MOL added that talks have also started with the operators and owners of waste management facilities on securing the capacity necessary for the concession. Zsolt Pethő, the former head of MOL's petrochemicals unit and a director of the company's trade and optimization division, will head MoHu.
MOL deputy CEO Oszkár Világi said the goal of MoHu is to establish "competitive, sustainable and transparent" waste management, taking the view that waste is a "raw material."
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