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Multinational MOL’s Largest Organic Investment to be Inaugurated Next Week

Hungary Today 2024.05.10.

Next week, Hungarian multinational oil and gas company MOL‘s Polyol Complex in Tiszaújváros (northern Hungary) will be inaugurated in the presence of Prime Minister Viktor Orbán, reports Világgazdaság.

Thanks to the close cooperation between MOL and Thyssenkrupp, the Polyol Complex, the largest organic investment of the MOL Group, has been built. Organic investments use the most advanced, safe, and environmentally friendly technologies currently available on the market to produce a product that can be used in a wide range of applications.

The new plant will help MOL Petrochemicals to become the leading chemical company in the region.


Both MOL Petrochemicals and SLOVNAFT (the petrochemical unit of SLOVNAFT, in Bratislava) have many decades of experience in producing polymers of competitive quality for the plastics industry. These are fundamental for a wide range of industrial applications and for the production of a huge number of consumer goods that are essential to our everyday lives.

POLYMOL is the registered trademark for polyether polyol produced by MOL Petrochemicals in Tiszaújváros. POLYMOL products can be applied to various market segments:

  • flexible slabstock foams
  • flexible molded foams
  • rigid foam applications
  • coatings, adhesive, sealant, and elastomer applications

The inauguration ceremony will take place on May 14 and will be attended and addressed by Viktor Orbán, Prime Minister of Hungary, and Zsolt Hernádi, Chairman-CEO of the MOL Group.

According to an earlier analysis by K&H Értékpapír, the Polyol Complex could contribute to the MOL Group’s performance with an annual EBITDA (earnings before interest, taxes, depreciation, and amortization) of USD 150 million.

The EUR 1.2 billion investment was launched by the oil company at the end of 2018, and the project, which was approved by the European Commission, was supported by the Hungarian government with HUF 12 billion (EUR 31 million) in investment subsidies and HUF 28 billion (EUR 72 million) in tax incentives. According to an earlier announcement by MOL, the new complex will have a capacity of 200 kilotons per year and will create around 200 long-term sustainable jobs in Tiszaújváros.

The investment will make the MOL Group the only integrated polyol producer in Central and Eastern Europe.

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Via Világgazdaság; Featured mage via Facebook/Szijjártó Péter

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