Thyssenkrupp Receives Major Order for New Chemical Complex in Hungary

Thyssenkrupp's Industrial Solutions business area has received a major order to build a new integrated chemical complex in Hungary. The customer for the project is the MOL Group, an international oil and gas company from Hungary. The contracts for the engineering, procurement and construction (EPC) of the new plant complex were signed on 12 September 2018 in Budapest. MOL is investing a total of around EUR 1.2 billion in the new plant complex. The project is part of the MOL 2030 growth strategy under which the company is developing new value chains in the petrochemical sector. The complex with an annual production capacity of 200,000 tons of polyether polyol is scheduled to go into operation in 2021. It will make MOL the only integrated producer of polyether polyols – important intermediates for products in the automotive, construction, packaging and furniture industries – in Central and Eastern Europe.