The single largest organic investment in the history of MOL Group
MOL Petrochemicals is expanding with the construction of a new polyol complex that is unique in its region.
This EUR 1.2 billion development in Tiszaújváros is the largest single organic investment in the history of MOL Group. The plant will use the most advanced, safest and most environmentallyfriendly technology currently available on the market to produce this versatile material.
Polyol is an innovative and highly sought-after commodity chemical, for which the demand will continue to grow in the upcoming decades. lt is the base component of polyurethane, a polymer used by various industries including the construction, insulation, furniture manufacturing, automotive and textile industries. Polyol production will begin within a few years.
This will make MOL Group the first company in the CEE region to have a fully-integrated value chain from crude oil to polyol production.
The polyol complex will be one of the flagship investments of the MOL Group 2030 Enter Tomorrow strategy, transforming MOL Group from fuels to chemicals to become the first choice of investors and customers. This highlights our commitment and contribution to the growth of the Hungarian economy.
The project in figures
- Construction on the EUR 1.2 BILLION plant started in 2018 and will be completed by thyssenkrupp in 2021.
- The complex's capacity will reach 200,000 TONNES annually.
- The petrochemicals complex will be automated and run on state-of-the-art technologies, while providing jobs to a QUALIFIED STAFF OF 200.
- MOL Group will invest USD 4.5 BILLION in the regional petrochemical business development by 2030.
- The Hungarian state supported the project with EUR 131 MILLION.
National Office for Research, Development and Innovation - Project implemented from the NKFI Fund
MOL has started polyol research and development
The Polyol Research and Development Project aims to develop polyether-polyol product grades with which MOL Group can strengthen its future position and competitiveness in the polyurethane feedstock market.
Name of the beneficiary: MOL Hungarian Oil and Gas Public Limited Company (MOL Plc.)
Project title: Research and development of polyether-polyol product grades with market potential (Polyol R&D Project) Contracted grant amount: HUF 483 269 279
- Grant intensity (%): 47.76%
- Planned project completion date: 31.07.2022
- Project ID: 2019-1.1.1-PIACI-KFI-2019-00136
Presentation of the project content:
MOL Group's 2030 strategy sets the goal of increasing the contribution of the petrochemical business to the results of the entire group. To this end, MOL is building a polyol complex in Tiszaújváros for 1.2 billion EUR. In this context, MOL is embarking on a polyol research and development (R&D) project.
For the successful operation of the polyol complex being built, it is also essential to develop products with market potential that meet the needs of the customer, which will take place in the Polyol R&D project.
The Polyol R&D project will develop at least 10 polyols with significant market potential based on preliminary evaluations, with better properties compared to similar competing products, using a modern technology that is a pioneer in the field of polyols. These products will be manufactured and launched on the market after the startup of the polyol complex in Tiszaújváros.
The market for polyether polyols is developing dynamically both globally and in Central Europe, with global demand expected to grow by 3.4% per year until 2025 and, according to market forecasts, this expansion will continue in the long run. The main engine of growth is the fact that polyols are one of the main raw materials for polyurethanes, which are some of the most widely used plastics. Polyurethanes are used in significant quantities in the automotive, packaging, construction and convenience sectors, among others, so the end-users of the chemical products developed under the project will be millions of people buying the products manufactured by these sectors.
ACQUISITION OF AURORA KUNSTSTOFFE – ENTERING INTO PLASTIC COMPOUNDING
MOL takes full acquisition of the German recyclate-based compounding company and its value chain covering the disposal of plastics and the production of sustainable plastic compounds
MOL Group completed the acquisition of Aurora Kunststoffe GmbH in 2019. With the successful closing of the deal, MOL Group strengthened its position as an automotive supplier and widened its portfolio to include recyclate-based, sustainable plastic compounds. The acquisition is part of MOL Group’s Enter Tomorrow 2030 strategy, which will see the transition from a traditional fuel-based downstream business model to a higher value-added petrochemical product portfolio.
Aurora, with its innovative products, perfectly complements MOL Group’s petrochemical portfolio and adds to its sustainability objectives. The company, which enjoys a unique and lean closed-loop business model, has production plants located at nearby automotive manufacturers as well as plastics conversion clusters in Baden-Württemberg, Germany. Aurora collects industrial plastic waste, recycles it, and then upgrades the properties of the material into an enhanced plastic that suits the requirements of customers in the car manufacturing industry and other businesses with high-quality standards. By combining MOL Group’s business experience and Aurora’s recycling know-how, the long-term objective is to accelerate further market growth while relieving the burden of manufacturing on the environment.
MOL Group is committed to further grow the business in Germany and roll it out to Central and Eastern Europe.
For further information:
STRATEGIC PARTNERSHIP WITH APK AG- ENTERING INTO PLASTICS RECYCLING
As a sustainably responsible company that always follows the newest market trends and is attune to customers’ requirements, MOL Group increased its role in the recycling of plastics in recent years. As a result, a strategic partnership with the German plastics recycling company, APK AG, was established in 2018.
APK AG was founded in 2008 and is located at Merseburg, Germany (near Leipzig). As a first step in the strategic cooperation between the two companies, MOL Group supported the mechanical completion of APK’s 8 kt Newcycling® plant in Merseburg. The plant serves as a pilot for an innovative recycling process, Newcycling®. Newcycling® technology is a solvent-based process that enables the selective separation of polymers in mixed plastic waste. The result is pure granulates that have virgin-like properties. Such waste streams cannot be recycled using conventional mechanical recycling technologies.
MOL Group and APK AG are on target to offer complete recycling solutions (“virgin + recyclate”) to all customers committed to sustainability. We are also at the forefront of market requirements for solutions where the usage of virgin polymers, mixed or compounded with high-quality recycled polymers, reduces the carbon footprint and increases sustainability while retaining the same workable properties of the material as virgin polymers.
MOL Group and APK AG are collaborating strategically on plastics recycling. Both parties are investigating the possibility of building an advanced recycling plant based on Newcycling® technology together within MOL’s core region.
Contact person for MOL-APK strategic partnership:
Teodora Gabor | Recycling Project Manager
m: +36 20 389 3768 I @ TMGabor@mol.hu
Kurt Walter Scheffrahn | Senior Recycling Project Manager
m: +36 30 384 8380 I @ KScheffrahn@mol.hu