Péter Szijjártó, the minister for foreign affairs and trade, on Wednesday attended the cornerstone ceremony of a propylene plant of MOL Petrolkémia in Tiszaújváros, in eastern Hungary. The 65 billion forint (EUR 174.5m) project is the largest investment by a Hungarian company so far this year, he noted.
The project to be completed by 2024 received government support of 5 billion forints (EUR 13,4 million) and is expected to preserve 1,200 jobs, he said.
Hungarian oil and gas company MOL, which controls MOL Petrolkémia, is pursuing a strategy of turning an increasing proportion of crude oil into durable goods instead of fuel, he said.
The investment has implemented climate-friendly measures that cut carbon emissions by some 40,000 tonnes a year while reducing the amount of waste water to “almost zero.”
Featured photo by János Vajda/MTI