The MOL Group has laid the foundation stone for its new polyol plant in Tiszaújváros, Hungary.  The plant’s anticipated completion date is 2021 at which time the €1.2-billion construction will be expected to produce approximately 200,000 tonnes annually.

The foundation stone was officially laid in a ceremony which included MOL’s  Chairman and CEO Zsolt Hernádi and Thyssenkrupp Industrial Solutions' CEO of Chemical & Process technologies, Sami Pelkonen.  They were joined by the Hungarian finance minister, Mihály Varga and Ferenc Koncz, a Member of the Hungarian Parliament.

The Tiszaújváros plant will be unique in Central and Eastern Europe as the only petrochemical plant with a completely integrated value chain. This ranges from crude oil extraction right through to the production of the polyether polyols which are widely used in the production of plastics.  It is anticipated that the plant will employ 200 people. 

With production expected to start in 2021, the plant represents MOL’s largest investment project in the company’s history.