With a population of less than 20,000 Tiszaújváros might seem to be a surprising location to establish a huge Petrochemical plant, however, this location is in close proximity to both Miskolc and Debrecen, sitting between two major centers of population and educational excellence of Hungary. Debrecen, in particular, is well known for its strength in the sciences and in engineering.
For the MOL Group, the strategic importance of this new petrochemical plant can not be understated. At a cost of EUR 1.2 billion, this plant represents the largest domestic investment ever made by a Hungarian company. The new plant will be capable of producing, practically with zero-emission, 200,000 tonnes of polyol, on a yearly basis from 2021 onwards and will make MOL the only integrated polyol producer in the Central and Eastern European region.
The production of polyether polyol, which is the raw material for polyurethane foams, represents the main direction of MOL’s petrochemical development. One potential market for this product, in close proximity to the plant, would be the regional fast-growing automotive manufacturing industry. Debrecen in particular with recent huge inward investment from producers such as BMW, Continental and Joyson Safety Systems (which is one of the largest automotive airbag production units in the world) and GS Yuasa – an automotive battery manufacturer in Miskolc.
The growth of the automotive industry within Hungary is providing MOL significant opportunities. Other areas of interest for MOL Group Petrochemicals include construction, packaging and furniture manufacturing industries and any other manufacturer utilizing polyurethane foams.