A groundbreaking ceremony was held for Hungarian oil and gas company Mol’s polyol plant, its largest domestic investment project, in Tiszaújváros, in north-eastern Hungary. The 1.2 billion euro investment is the Mol Group’s largest organic investment to date.
Addressing the event, Finance Minister Mihály Varga said the Hungarian government had contributed 131 million euros to the project. The new plant will not only create jobs in the region, but will also apply a modern and environmentally sound technology for the production of petrochemicals used in packaging, and in the automotive and construction industries, Varga said.
Zsolt Hernádi, Mol Group’s CEO, said that after its completion scheduled for 2021, the plant will produce 200,000 tonnes of polyol a year. The plant will employ 200 people, he said.