The plant’s equipment will be supplied by Germany’s ThyssenKrupp Industrial Solution AG, MOL President-CEO Zsolt Hernádi said after the signing ceremony.
Marcel Fasswald, CEO of ThyssenKrupp Industrial Solutions AG (L) and Zsolt Hernádi, MOL President-CEO (R)
Hernádi said the Hungarian government will contribute EUR 131 million to the project that has also been approved by the European Union. The plant will produce 200,000 tons of polyols per year, “propelling the company to a significant position in the 1.4 million ton European polyol market,” he said.
The plant is planned to begin production in the second half of 2021.
Polyols are organic compounds containing several hydroxyl (-OH) groups. They include sugar alcohols used in food sweeteners and polyvinyl alcohols, the main binding agents in resins and oil-based paints.
