Mol buys stake in Rossi Biofuel


Hungarian oil and gas company Mol Nyrt is buying a minority stake in the Hungarian unit of Rossi Beteiligungs GmbH and will build a plant to produce biodiesel, the company said in a stock exchange statement on Thursday.

Mol will purchase 25% worth of new shares in Rossi Biofuel Zrt worth €1.1 million. The two companies will build the new plant by November 2007. Mol wants to mix vegetable oil or other components into its petroleum-based diesel fuel to raise the content of biofuel. Mol said it selected six suppliers, including Rossi Biofuel, to supply the components. “This plant would help us satisfy increasing demand for biofuels,” Rossi Biofuel Managing Director Éva Hegedűs said at a press conference in Budapest today.
Mol and Rossi plan to spend €30 million to build the plant in Komárom, northwest Hungary, Artúr Thernesz, a Mol executive, said at the press conference. The facility, which would employ 35 to 50 people, is expected to produce 150,000 tons of biodiesel components a year. Mol will use about 120,000 tons of the plant's production at its refineries, Thernesz said.


European e-commerce soars during pandemic - study Analysis

European e-commerce soars during pandemic - study

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Chain Bridge to be closed for traffic for 18 months City

Chain Bridge to be closed for traffic for 18 months


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.