MOL Group's strategic chemical project reached a milestone and signed a design, procurement and construction (EPC) contract with Thyssenkrupp Industrial Solutions, and ThyssenKrupp will be on MOL Group The entire polyether polyol production base construction project is contracted.
MOL Completes Polyether Polyol Project Decision and Signs EPC Contract with ThyssenKrupp
The EPC contract covers the full technical scope of the polyol project, in addition to certain elements related to project management, site integration, infrastructure costs and asset commissioning.
The new chemical production base will have a total polyether polyol capacity of 200,000 tons/year and will be able to produce a wider range of end products, which will exceed the MOL Group's initial strategic announcement. The production base will also include propylene glycol production units. The total capital expenditure (CAPEX) of the alcohol project is 1.2 billion euros, including the costs already incurred.
The new production site will be built in Tiszaújváros, Hungary, and is scheduled to go into production by the second half of 2021. Ground engineering and infrastructure activities will begin in the fourth quarter of 2018. The polyol project is currently the largest investment project of the MOL Group. The company will become the only comprehensive polyol producer in Central and Eastern Europe.
As a raw material for polyurethane foam, polyether polyol is widely used in the automotive, construction, packaging and furniture industries. MOL regards it as the main direction of petrochemical capacity expansion.