MOL makes an investment decision on polyol project

MOL has reached another important milestone in its flagship strategic chemical project and entered into engineering, procurement and construction (EPC) contracts with thyssenkrupp Industrial Solutions for the implementation of the entire polyether polyol complex.

The EPC contracts cover the entire technical scope of the polyol project, apart from certain elements mainly relating to project management, site integration, and infrastructural costs and commissioning of the assets.

The new chemical complex will have a polyether polyol production capacity of 200kt per annum, larger than originally envisaged and will be capable to produce a wider range of end-products than foreseen at the time of the announcement of the new long-term strategy of MOL. It will also include a propylene glycol production unit to maximize operational and commercial flexibility. The total CAPEX of the Polyol Project is EUR 1.2B.

The new manufacturing complex will be built in Tiszaújváros, Hungary and is planned to be operational by the second half of 2021. Ground works and basic construction activities are set to already begin in Q4 2018.

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